FD Technologies looks to increase graduate roles

Seamus Keating Expand

Close

Seamus Keating

Seamus Keating

Seamus Keating

Ellie Donnelly Twitter Email

FD Technologies – formerly First Derivatives – could “easily” take on 300 grads in the coming year, according to the company’s CEO Seamus Keating.

The Newry-based firm has hired over 230 graduates in the past 12 months, as demand for its services increases.

“We would typically in the past not have been taking in graduates in November, but… we have 30 something graduates joining us today just because we see the demand and the need as we look out to the beginning of the next calendar year,” Mr Keating said.

“I certainly see us increasing that 230 by a significant number looking to the demand environment for next year. It will be significantly more than that [230], it won’t be double it, but it could easily be 300.”

The graduates are mainly based in Newry, with some in London.

His comments come as the company saw its revenue and gross profit increase in the first half of its financial year 2022. Revenue increased 7pc to £128m (€151m) in the six months to August 31, on the back of improved market conditions.

Gross profit at the company also increased 7pc to £51.7m (€61m), according to interim results.

However, the group reported an overall loss for the period of £1.6m (€1.9m), compared to a profit of £7.4m (€8.7m) in the prior year, on the back of increased investment in R&D, and sales and marketing.

FD started out providing services to financial markets firms – in particular big investment banks. Its customers are increasingly drawn from a range of sectors, from Formula One to satellite operators.

The company’s KX division is a major global player in real-time streaming analytics.

7 Things: Adrian Weckler on Tech

Tech’s stars and turkeys rounded up and served to you every Friday by Ireland’s No. 1 technology writer.

This field is required

There was a total of 41 KX subscription deals over the six months, a threefold increase on the prior year period, as the company focuses on growing recurring subscription revenue.

Mr Keating said the progress in building a subscription base in the company’s KX division, “means we can grow at least 25pc next year, that’s enormous.”

Meanwhile, it’s consulting business recorded growth of 18pc in the six-month period.

“18pc growth is one of the strongest growths that we’ve seen in my time in the business and the momentum is there to continue growing at that sort of race.”

In terms of geography, the North American market “is moving fastest for us, both in banking and across the wider industry, I think there is a lot of opportunity there,” Mr Keating said.

Nonetheless, the business, which has its finance and HR teams based across Newry and Dublin, also has “significant opportunity to grow more in Ireland and to remain a strongly anchored Irish business operating internationally.”

Looking forward, the company has reiterated its revenue guidance for the current financial year in the range of £255m to £260m, with adjusted EBITDA in the range of £31m to £33m.

Most Watched

Privacy