First Derivatives Discussion Board http://www.iii.co.uk/investment/detail?code=cotn:FDP.L&display=discussion http://www.iii.co.uk/icons/logos/uk_logo.gif http://www.iii.co.uk tag:iii.co.uk,2003:tst.9385709 http://www.keepandshare.com/doc/3638484/first-derivatives-xls-march-5-2012-9-38-pm-48k?da=y By wolfman-99 ]]> http://www.iii.co.uk/investment/detail?code=cotn:FDP.L&display=discussion&id=9385709&action=detail Mon, 05 Mar 2012 15:40:00 GMT wolfman-99 tag:iii.co.uk,2003:tst.9214870
Just posted Part II of The Great Irish Share Valuation Project on my blog. I'm setting a Fair Value Price Target for every listed Irish company. So far I've valued 2 dozen companies, including First Derivatives:

http://wexboy.wordpress.com/2012/01/24/the-great-irish-share-valuation-project-ii/

I hope you'll take a look (plse don't hesitate to comment/email me), and perhaps become a regular reader.

Cheers,

Wexboy By Wexboy ]]> http://www.iii.co.uk/investment/detail?code=cotn:FDP.L&display=discussion&id=9214870&action=detail Thu, 26 Jan 2012 19:46:00 GMT Wexboy tag:iii.co.uk,2003:tst.9104794
HOW MANY OF YOUR STOCKS ARE ON THIS LIST? Four of my favourites are there including No. 28 VALiRx, which completely took me by surprise!

http://uk.finance.yahoo.com/news/aim-stocks-once-again-dominate-102943327.html
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The Mail..
....Some interesting and relevant articles from the Mail On Sunday re- The economy, shares,
interest rates...what next for 2012?
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Markets/Eurozone Crisis
http://www.dailymail.co.uk/money/markets/article-2078156/AIM-market-hit-eurozone-crisis-investors-prefer-play-safe.html
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Credit Crunch-warning
http://www.dailymail.co.uk/money/news/article-2078467/Credit-crunch-How-protect-money-experts-warn-real-possibility.html
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The Next Recession
http://www.dailymail.co.uk/money/news/article-1616085/Economy-watch-Is-Britain-heading-recession.html
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Interest Rates-predictions
http://www.dailymail.co.uk/money/news/article-1607881/Interest-rates-News-predictions.html
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where next for shares in 2012
http://www.dailymail.co.uk/money/investing/article-1619305/Stock-market-predictions-What By dickie3times ]]> http://www.iii.co.uk/investment/detail?code=cotn:FDP.L&display=discussion&id=9104794&action=detail Tue, 27 Dec 2011 21:45:00 GMT dickie3times tag:iii.co.uk,2003:tst.8858412 By Malar Velaigam , 18 October 2011
http://www.investorschronicle.co.uk/2011/10/18/shares/news-and-analysis/first-derivatives-maintains-momentum-wRLUux2dypAm3Sz3X6l4NI/index.html


Despite catering to the troubled banking sector, and facing contracting IT budgets, trading software specialist First Derivatives managed to record 26 per cent revenue growth in the first half of its financial year, thanks to increasing demand for the company's specialised consultancy offering.
Managing director Brian Conlon says that consultants are deeply integrated into complex financial systems. There are multiple systems – 10 to 20 – within each asset class within a banking institution and as such these are less likely to be cut in times of tightened banking budgets. So, consultancy revenues have continued to rise, growing 39 per cent to £15.4m and now account for more than two-thirds of total sales.
Software revenues have also grown, rising 5 per cent to £7m. Mr Conlon points out that numbers are skewed by a legacy contract and, excluding this, software sales would have increased 42 per cent. Moreover, investments into cloud computing and software-as-a-service offerings have been paying off, with recurring revenues from the business rising 52 per cent. Mr Conlon adds that he is reasonably confident on prospects for the rest of the year, with the company not being "held hostage" to when contracts are being signed.
Analysts at Charles Stanley Securities are expecting full-year pre-tax profits of £7.6m and EPS of 33p (£6.5m and 29p for 2011).
FIRST DERIVATIVES (FDP)
ORD PRICE: 464p MARKET VALUE: £76.6m
TOUCH: 452-475p 12-MONTH HIGH: 560p LOW: 204.75p
DIVIDEND YIELD: 2.2% PE RATIO: 14
NET ASSET VALUE: 175p* NET DEBT: 70%
Half-year to 31 Aug Turnover (£m) Pre-tax profit (£m) Earnings per share (p) Dividend per share (p)
2010 17.7 3.24 15.6 2.90
2011 22.4 3.40 16.3 3.00
% change +26 +5 +4 +3
Ex-div: 9 Nov
Payment: 8 Dec
*Includes intangible assets of £27.7m, or 168p a share
IC View:

First Derivatives has managed to maintain its growth trajectory despite the tough climate; note that rivals have had less success. Priced on 14 times earnings forecasts, falling to 11 times in 2012-13, the shares remain good value. By SpikeyDT ]]> http://www.iii.co.uk/investment/detail?code=cotn:FDP.L&display=discussion&id=8858412&action=detail Tue, 18 Oct 2011 23:21:00 GMT SpikeyDT tag:iii.co.uk,2003:tst.8857577 18/10/2011 Miles Nolan
http://www.growthcompany.co.uk/recommendations/1662333/first-derivatives-.thtml


Fast growing financial software specialist First Derivatives (FDP) has reported a solid set of interim results, driven by continued demand for larger projects from large global investment banks.

FDP has enjoyed growth across all parts of its business, with sales leaping 26% to £22.4m, and pre-tax profits nudging ahead 5% to £3.4m. Profitable since formation, FDP is now increasingly 'stealing business' from some of its more established rivals, according to chief executive Brian Conlon.

With a flexible delivery model and an overseas network of offices, FDP is able to redeploy its staff quickly. The pipeline of new business is on the up with new releases being developed around its common Delta technology platform, which allows new products to be implemented quickly. In its software arm it has invested heavily to deliver products in the cloud, as well as on a software as a service model (SaaS).

Consulting revenue soared 39% to £15.4m, buoyed by new assignments and a 20% hike in its headcount to 497. It has also undertaken a new legal consulting initiative aimed at helping banks in areas such as non-core asset disposal, compliance and securitisation.

Repeat revenue is a chunky 80% of sales, in addition the signing of recent contracts should help boost the second half. Net debt is £20.3m, but FDP has asset backing with a £17.1m property portfolio (largely premises for its consultants).

An aggressive depreciation policy, coupled with investment in infrastructure has forced broker Arbuthnot to peg back 2012 pre-tax forecasts to £8.7m, producing EPS of 35.6p. Operating in a massively fragmented market, FDP is well run and could find itself a target for a major in a couple of years time. Add.



Tags: AIM market, Global footprint, Investment banks, Software consulting

Sector: Software & Computer Services

Companies: First Derivatives

Market cap: £76.6mPE Forecast: 13.0
Share price: 463.5p By SpikeyDT ]]> http://www.iii.co.uk/investment/detail?code=cotn:FDP.L&display=discussion&id=8857577&action=detail Tue, 18 Oct 2011 17:29:00 GMT SpikeyDT tag:iii.co.uk,2003:tst.8395611 by Max Julius on Jun 15, 2011 at 09:10
http://www.citywire.co.uk/money/broker-roundup-price-target-hikes-for-diageo-and-petrofac/a499851?ref=citywire-money-latest-news-list

Credit Suisse ups its price target for Diageo (DGE.L) citing growth in emerging markets by the world’s biggest spirits maker, while two analysts see more upside in oil services firm Petrofac (PFC.L).

‘We believe that robust performances in Latin America, Africa, and Asia Pacific, and corporate restructuring designed to capture the growth in emerging markets are both supportive of increasing Diageo’s target price,’ said analysts at Credit Suisse in a research note.

They added: ‘We raise our target price from £13.00 to £14.00 based on an upgrade to our medium-term sales and profit growth estimates for the International and Asia-Pacific regions.’

Upgrades, raised price targets

Meanwhile, Citigroup raised its price target for Petrofac to £20.00 from £18.50, giving the stock a ‘buy’ rating.

Natixis raised its price target for Petrofac to £17.88 from £16.50, with a ‘buy’ rating.

Altium Securities hiked its price target for Oxford Instruments (OXIG.L) to 920p from 815p, with a ‘buy’ rating.

Arbuthnot Securities raised its price target for financial services software provider First Derivatives (FRST.L) to 660p from 539p.

Panmure Gordon raised its price target for software firm Innovation Group (TIG.L) to 25p from 23p, with a ‘buy’ rating.

JP Morgan began coverage of electronics group Laird (LRD.L) with an ‘overweight’ rating and price target of 170p. By SpikeyDT ]]> http://www.iii.co.uk/investment/detail?code=cotn:FDP.L&display=discussion&id=8395611&action=detail Wed, 15 Jun 2011 09:22:00 GMT SpikeyDT tag:iii.co.uk,2003:tst.8337799
http://www.iii.co.uk/articles/15735/hybridans-small-cap-wrap



First Derivatives (FDP) [525p/£85.97 million]

The provider of software and consulting services to industry global investment banks and hedge funds announced results for the 12 months to 28 February 2011.

Company revenues increased to £36.7 million (2010: £25.5 million), whilst pre-tax profits increased by 15.1% to £6.5 million.

Impressively, First Derivatives increased its headcount from 385 to 524 at the year end, demonstrating its commitment to building its number of employees, with a significant proportion coming from the ever-growing pool of university graduates.

Whilst consultancy services represent the bulk of the revenue generated, relative growth of software sales was much greater, having increased by 104% to £12.5 million (2% growth for consultancy sales).

The company also acquired LakeFront Data Ventures in the summer of 2010, which has been fully integrated into the business and contributed to performance for the period, and having secured £4.3 million from Invest NI for the creation of 359 new jobs over the next three years, First Derivatives could have an interesting period to look forward to. By SpikeyDT ]]> http://www.iii.co.uk/investment/detail?code=cotn:FDP.L&display=discussion&id=8337799&action=detail Thu, 02 Jun 2011 10:42:00 GMT SpikeyDT tag:iii.co.uk,2003:tst.8328067 ')" target="_new" rel="nofollow">http://www.proactiveinvestors.co.uk/columns/hybridan-small-cap-wrap/5482/amur-doubles-up-under-the-bahamas-sea-broadening-the-range-solo-goes-joint-5482.html

3:42 pm

First Derivatives (LON:FDP, 525p / £85.97m)
Provider of software and consulting services to industry global investment banks and hedge funds announced results for the 12 months to 28 February 2011. Company revenues increased by 44.2 per cent to £36.7m (2010: £25.5m), whilst pre-tax profits increased by 15.1 per cent to £6.5m compared to (2010: £5.6m). Impressively, First Derivatives increased its headcount from 385 to 524 at the year end demonstrating its commitment to building its number of employees, with a significant proportion coming from the ever-growing pool of university graduates. Whilst consultancy services represent the bulk of the revenue generated, relative growth of software sales was much greater, having increased by 104 per cent to £12.5m (2 per cent growth for consultancy sales). The Company also acquired LakeFront Data Ventures Inc. in the summer of 2010, which has been fully integrated into the business and contributed to performance for the period, and having secured £4.3m from Invest NI for the creation of 359 new jobs over the next three years, First Derivatives could have an interesting period to look forward to. By SpikeyDT ]]> http://www.iii.co.uk/investment/detail?code=cotn:FDP.L&display=discussion&id=8328067&action=detail Tue, 31 May 2011 16:16:00 GMT SpikeyDT tag:iii.co.uk,2003:tst.8322056 ')" target="_new" rel="nofollow">http://www.ukcitymedia.co.uk/news/fullstory.php?id=1945

Newspaper share tips : Barclays Bank, Tullow Oil, National Grid, French Connection
29/05/2011 by ukcitymedia.co.uk about : Newspaper Share Tips - 0 Comments - 384 words

The Investors Chronicle Tips of the Week has a buy for French Connection. A speculative retail recovery play, picking up market share from improved trading in recent weeks. Buy NWF Group as a solid distribution firm with an attractive yield.

The column had sells for Barclays Bank at 279p as the bank is too highly rated given doubts over growth and regulatory challenges ahead and sell Wilmington as further cuts in forecasts likely as its legacy print business continues to struggle.

In Updates keep buying EKF Diagnostics, tipped on 18 Feb 2011 at 28.5p and now 23p. Keep selling Asos, recommended as a sell on 11 Feb 2011 at £16.76 and now £23.33. Homeserve, tipped on 9 April 2010 at 364p, now offers good value at 512p.

In News Tips buy Tullow Oil following its expansion through acquisition of its North Sea gas exploration interests. JJB Sports looks high enough at 24p given its £181.4m full-year losses and in Tips Bits keep buying Albemarle & Bond, Breedon Aggregates Development Securities, Hansteen and Plant Impact.

Insolvency groups Fairpoint, Begbies Traynor and RSM Tenon are only fairly priced until there are signs of a return to normal trading conditions. Aveva looks fairly priced at £15.27 following its full-year results. Buy Hogg Robinson Group at 64p, as a play on the ongoing global economic recovery.

Quintain Estates offers speculative good value at 49p as it makes progress with its flagship Wembley project. Telecom Plus is fairly priced at 527p as future growth is already factored in. First Derivatives offers good value at 492p, as full-year figures indicate solid progress.

In Feature Tips, Martin Li suggests six overseas resources stocks worth buying: Silver Wheaton, EnCana, Iluka, New Standard Energy, Victoria Gold Corporation and Galaxy Resources.

In Results Tips, buys for Dairy Crest Group, Metric Property Investments, National Grid, Mitchells & Butlers, Mitie, Entertainment One, Vectura, IGas Energy, Great Portland Estates, Marks & Spencer, Paragon Group of Companies and Cove Energy. The column has sells for Talk Talk Telecom and Cable & Wireless Communications. By SpikeyDT ]]> http://www.iii.co.uk/investment/detail?code=cotn:FDP.L&display=discussion&id=8322056&action=detail Sun, 29 May 2011 21:57:00 GMT SpikeyDT tag:iii.co.uk,2003:tst.8305752 ')" target="_new" rel="nofollow">http://www.investorschronicle.co.uk/Companies/ByEvent/Results/Analysis/article/20110525/1867ec20-86a6-11e0-bbd6-00144f2af8e8/Solid-progress-at-First-Derivatives.jsp

Created: 25 May 2011 Written by: Jonas Crosland

A revival in trading activity last year drove revenues up 44 per cent to £36.7m and pre-tax profits 15.1 per cent higher to £6.5m at First Derivatives, a provider of software and consulting services to investment banks and hedge funds.
Shareholders were also rewarded with an increase in the total dividend, from 9.5p to 10.15p, covered around three times by EPS of 33.2p. Significant investment in expanding the headcount paid off handsomely, with software sales more than doubling to £12.5m and turnover on the consultancy side up 25.2 per cent at £24.2m. Further soft product launches are expected in the first half of the current year, followed by a sustained marketing campaign in the second half.
IC VIEW:
GoodValue
Trading on unrevised current-year consensus EPS estimates of 38.5p, the shares are priced on a modest PE ratio of 13. Good value at 492p.
Last IC view: Good value, 362p, 28 Oct 2010 By SpikeyDT ]]> http://www.iii.co.uk/investment/detail?code=cotn:FDP.L&display=discussion&id=8305752&action=detail Wed, 25 May 2011 17:02:00 GMT SpikeyDT tag:iii.co.uk,2003:tst.8305318 25/05/2011

Financial software specialist First Derivatives (FDP) has notched up its fifteenth year of continued growth, driven by strong demand from investment banks.

Leveraging from an overseas network of offices, FDP provides solutions to a wide range of blue chip names, many of which rely on its expertise to monitor masses of volume. Driven by both organic growth and acquisitions, sales in the year to February leapt 44% to £36.7m as pre-tax profits increased 15% to £6.5m.

Software sales more than doubled to £12.5m, with more than 40 customers on the books for its core Delta product, which is used in trading and risk management. Though investment banks provided the foundation for FDP when it was formed, the client base now spans stock exchanges, commodity brokers and foreign exchange dealers.

A key point is that all the products sold are developed on a common technology platform, which allows new software to be easily implemented. Delta is sold on an annual license basis, providing good visibility - indeed repeat revenue is a massive 80% of overall sales. In consultancy it boosted consultant numbers by 30% to 271, this will increase during the year, not least thanks to a £4.3m grant from Investment Northern Ireland. Daily consulting is up 57% to £110,000 and the outlook is positive.

Broker Arbuthnot forecasts 2012 pre-tax profits of £7.8m, and EPS of 32.4p and a dividend of 13.25p. The shares have soared over recent months, due to increasing investor interest. Given the strong start to the year, FDP has further to run. Long-term buy.

Tags: Acquisitions, AIM market, Growth company, Organic growth

Sector: Software & Computer Services

Companies: First Derivatives

Market cap: £82.7mPE Forecast: 15.6
Share price: 505p

http://www.growthcompany.co.uk/recommendations/1626008/first-derivatives.thtml By SpikeyDT ]]> http://www.iii.co.uk/investment/detail?code=cotn:FDP.L&display=discussion&id=8305318&action=detail Wed, 25 May 2011 15:57:00 GMT SpikeyDT tag:iii.co.uk,2003:tst.7996626
The quality of this newspapers coverage of Irish and UK business sectors has been deteriorating for years.

It is now a veritable rag, paying a merely token glance at Irish firms quoted on the Irish, AIM and Fully listed UK stock markets.

Moreover its general coverage of news has declined to that of New of the World status.

Not a pretty legacy for the O'Reilly clan to have claim to.

By Adhesive1 ]]> http://www.iii.co.uk/investment/detail?code=cotn:FDP.L&display=discussion&id=7996626&action=detail Sun, 20 Mar 2011 11:42:00 GMT Adhesive1 tag:iii.co.uk,2003:tst.7995540

There has to be more than a tip from..???? for this quality comany and stock.

Lets see what the Sunday qualities say and especially the Irish Independant.

Good luck all. By Miskina ]]> http://www.iii.co.uk/investment/detail?code=cotn:FDP.L&display=discussion&id=7995540&action=detail Sat, 19 Mar 2011 21:04:00 GMT Miskina tag:iii.co.uk,2003:tst.7993480
http://www.youtube.com/watch?v=6rqcMN96tkc By Miskina ]]> http://www.iii.co.uk/investment/detail?code=cotn:FDP.L&display=discussion&id=7993480&action=detail Fri, 18 Mar 2011 22:38:00 GMT Miskina tag:iii.co.uk,2003:tst.7991751 http://www.iii.co.uk/investment/detail?code=cotn:FDP.L&display=discussion&id=7991751&action=detail Fri, 18 Mar 2011 16:12:00 GMT pastybap