Profits up 48% at Newry firm First Derivatives

First Derivatives has expanded its operations in recent years with a series of acquisitions

Newry based financial technology firm, First Derivatives saw a 48% increase its profit after tax.

The company made £12.9m in the year up to 29 February 2016.

First Derivatives now employs more than 1,600 people.

The company was founded in 1996 by Newry native Brian Conlon, who remains its chief executive.

Chairman Seamus Keating said: "This was another successful period for First Derivatives, with progress across the group resulting in record results and positioning us strongly for future years.

"We expect another year of strong growth, at least in line with market forecasts, while continuing to invest for growth in the future."