Shares digital

Fidessa (FDSA) – Finals PTP: £17.1m (£14.3m) Divi: 18p (13.1p)

Decelerating growth in consultancy work at the provider of software and services for front office trading solutions at brokerage and fund management firms could have set alarm bells ringing, but chief executive Chris Aspinwall is not concerned. ‘We have not seen a slowdown,’ he confirms. ‘The slowdown in consultancy was down to competition in hiring in a very active year. It was difficult to get staff numbers in line with demand and we could have sold more consultants than we had,’ he adds.

Regulatory pressures, traders’ desire to improve market liquidity and mergers between key stock exchange platforms all continue to drive demand for the £293 million cap, whose shares jumped 13% to 850p amid relief at the reassuring numbers.

Shares says: Well run and well positioned but estimate upgrade momentum is slowing and the valuation looks fair.

by: Russ Mould