Fidessa Group expects flat revenue and lower profit margins for full year
October 23, 2012, 12:01 am TWN
Reuters--Trading software company Fidessa Group PLC said revenue for the full year would remain flat as equity market volumes declined in the third quarter, and that margins would be slightly lower than those reported in recent years.
The British company reported revenue of 278.3 million pounds (US$446 million) for 2011.
Fidessa said the challenges in the financial markets have continued longer than expected. "This has resulted in Fidessa's customers becoming yet more cost constrained and it seems unlikely that there will be significant improvement in the short term," the company said.
Fidessa, which gets more than half of its revenue from outside Europe, said it expects to announce more derivative deals in the fourth quarter, and expects it to have a bearing on full-year margins.
Shares of the company closed at 1372 pence on the London Stock Exchange on Friday.