Pre-tax profits soared by 120 per cent at Newry based First Derivatives, as the financial technology group benefited from three acquisitions it made during the year positioning it for growth in big data .

Revenues rose by 19 per cent in the year to February 28th 2105 to £83.2m (€115.9m), as profits before tax soared by 120 per cent to £17.5m. Adjusted EBITDA rose by 24 per cent to £15.5m, with net debt at £15.7m as of financial year-end.

Seamus Keating, chairman of FD, said it was a a "very successful year for FD, with the purchase of a majority stake in Kx Systems enabling the group to broaden its strategy".

Ks Systems principal product is one of the world’s most pre-eminent time-series databases.

Mr Keating said that subsequent investment across the business, including three strategic acquisitions in 2015, “positions FD as a leading player in big fast data across multiple vertical markets”.

““We will continue to invest to maximise the growth potential of the business and view the future with confidence,” he said.

Revenue in the group’s software division increased by 28.9 per cent to £24.9m (2014: £19.3m) “with customer wins across our entire product portfolio”.

Consulting revenues also continued to grow strongly, rising by 15.3 per cent to £58.3m (2014: £50.6m).

Looking to this year, Mr Keating said that it has started positively, “with good growth in consultancy and a number of contract wins in software” and FD expects to report “another year of strong growth”

“Overall, the group expects performance to be moderately ahead of current market forecasts,” he said.

FD employs 1,200 people, up from 900 in 2014 and this is expected to grow further. FD received future grant assistance of up to £3.9m from Invest Northern Ireland to support the creation of 484 new jobs within the group over the next few years.

FD will pay a final dividend for the year of 13.50p per share, an increase of 10.7 per cent compared to the prior year.