Fidessa at upper end
Trading systems software specialsist Fidessa has started the year well with strong revenue growth and stable margins despite the volatility in markets, which it does not expect to have much impact.
"We are pleased to be able to report continued strong demand for our products and services across the regions and believe that this is likely to be reflected in results around the upper end of market expectations for 2008 as a whole," chief executive Chris Aspinwall said.
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Good progress has been made across all regions and product lines and the indications are that the structural changes in the market, which occurred in 2007, are resulting in increased fragmentation of liquidity which is driving demand for our product set, the statement said.
In addition, the underlying strength of our business, with high levels of recurring revenue, strong cash generation and no debt, leaves us well positioned to meet any challenge should the situation in the financial markets worsen over the coming months, Fidessa added.
