Fidessa expects gradual increase in growth in 2015

LONDON (ShareCast) - Financial software and services group Fidessa said it expected a gradual increase in the growth rate in 2015 from the level it reached last year. The FTSE 250 group said while conditions in the financial sector remained challenging, the gradual improvements that the market registered in 2014 have carried into 2015.

Fidessa added that it was confident of seeing growth level returning close "to those it has seen in the past".

Analysts at Numis said the company had room to build momentum towards the end of this year and the beginning of 2016.

"Fidessa's subscription model means that the initial acceleration will be limited, but should build momentum during 2015/16," they said in a note on Thursday, in which they reiterated their forecast for the full-year.

In a statement released on Thursday, the group said it "believes that it will continue to play an important role as customers focus on efficiency, transparency, compliance and performance." In February, the company reported a fall in profit for 2014, as currency headwinds weighed on its performances, although revenue and pre-tax profit rose 3% at constant currency.

Fidessa shares were down 2.59% to 2,250.08p at 09:42 on Thursday.