First Derivatives PLC – FDP – Trading Update

First Derivatives PLC – FDP – Trading Update

FD (AIM: FDP.L, Euronext Growth: FDP.I) announces that it traded in line with market expectations for the year to 28 February 2021, generating revenue of £238m and adjusted EBITDA of £40m. Net debt at the period end was £10m, which is better than analyst forecasts and significantly reduced from the Group's net debt of £49m a year ago. The improvement in net debt is primarily driven by strong operating cash conversion, supplemented by the partial sale of our investment in Quantile Technologies for cash consideration of £11m.

The Group will announce full year results on 18 May 2021.

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