First Derivatives, the specialist financial software and consulting services company, has grown its annual turnover by more than 25 per cent to a record £46.1 million (€57.6 million).

Latest full-year results for the 12 months to February 2012 show the company, with headquarters in Newry, also boosted its pre-tax profits by 7 per cent to £6.9 million.

First Derivatives, which employs 700 people worldwide, provides software and services to many of the world’s leading investment banks, brokers and hedge funds.

Established 16 years ago by its chief executive Brian Conlon, the AIM-listed company is ranked as one of Northern Ireland’s fastest-growing businesses.

Mr Conlon said he was pleased with his company’s performance in the 12 months to February despite what he described as the “continuing uncertainty in the financial markets resulting largely from the European sovereign debt crisis”.

The latest accounts show First Derivatives was not immune to this uncertainty and had to absorb a loss on “foreign currency translation” totalling £455,000.

However, the 2012 financial statement also shows the Newry company realised a profit of £528,000 from the sale of four properties from its substantial employee residential portfolio.

The remaining properties held by the group have been externally valued at £18.9 million.

Overall First Derivatives’ balance sheet reflects its fundamental strengths – earnings before interest, taxes, depreciation and amortisation increased in the 12 months to February 2012 by 26.7 per cent to £10.9 million.

The company’s total asset base also increased to more than £70.7 million and equity attributable to shareholders jumped to £32.2 million.

* This article was amended on May 30th, 2012 to correct a factual error.