Preliminary results for the year ended 28 February 2018

May 22, 2018

FD (AIM:FDP.L, ESM:FDP.I) today announces its results for the year ended 28 February 2018.

Financial Highlights

Revenue £186.0m (2017: £151.7m)+23%
Adjusted EBITDA* £34.1m (2017: £28.8m)+19%
Profit before tax £12.1m (2017: £12.5m)-3%
Adjusted** profit after tax £19.5m (2017: £16.1m)+21%
Adjusted** fully diluted EPS 72.2p (2017: 61.3p)+18%
Full year dividend 24.0p per share (2017: 20.0p)+20%
Net debt £16.2m (2017: £13.5m) 

*Adjusted for share-based payments and acquisition costs

**Adjusted for amortisation of acquired intangibles, share-based payments, acquisition costs, foreign currency translation effect, share of loss of associate and exceptional taxation

Business Highlights

  • Strong growth in software revenue, up 27% as a result of new contract wins and continued penetration of the existing customer base
  • Strategic progression in our managed services and consulting activities resulting in revenue growth of 17%
  • The implementation and ongoing support of a third-party system for a New York-based bank, representing one of the largest contracts in our history
  • FinTech revenue up 22% to £142.9m (2017: £117.4m), driven by growth in recurring software revenue and an expansion of services provided to clients
  • MarTech revenue up 24% to £38.2m (2017: £30.7m), driven by growth in subscriptions for our Marketing Cloud platform, powered by our Kx technology
  • High-profile client wins including a Fortune 500 manufacturing company, a FTSE 100 gaming company and Aston Martin-Red Bull Racing, leading to inbound interest across a range of markets
  • Continued investment across the Group, including machine learning and AI initiatives, to further penetrate our addressable market in software
  • Boosted capabilities in telco, a key target market, through the acquisition of Telconomics
  • Positive start to the current financial year, with a healthy pipeline of new business

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