Years of consolidation, restructuring and shuttering of financial institutions have taken their toll on Fidessa (FDSA). But the financial trading software group believes those headwinds are abating; it expects recovering markets, along with strong demand for its multi-asset trading platform, to generate "modest" constant-currency growth this year.
That would follow first-half underlying growth in sales and operating profit of 4 and 5 per cent, respectively, to £137m and £20m. Fidessa thinks it can return to its historically lofty growth rate, but it could struggle due to fierce competition and heightened price sensitivity among its customers.
Broker Numis Securities expects full-year pre-tax profit of £39.3m, giving EPS of 77.3p, down from £43.1m and 81.8p last year.
