First Derivatives: Newry-based firm creates 484 jobs

Image caption, First Derivatives, based close to Sugar Island in Newry city centre, is one of only two stock market listed companies in Northern Ireland
  • Author, John Campbell
  • Role, 大象传媒 News NI Economics & Business Editor

A County Down-based financial technology firm is to create 484 jobs.

First Derivatives currently employs about 900 people, mostly in Newry, and also has offices in New York, Shanghai and Sydney.

Last year, the firm made a pre-tax profit of 拢7.9m on turnover of just under 拢70m.

The company makes financial analysis software used by investment banks all over the world and also provides consultancy services.

Invest NI has offered 拢3.9m to support the company's expansion and creation of new jobs.

First Minister Peter Robinson said the jobs would generate more than 拢22m a year to the local economy.

"The Northern Ireland Executive has made growing our economy its number one priority and through continued job creation and expansion by companies such as First Derivatives Group, we will meet that goal," he said.

Deputy First Minister Martin McGuinness said: "This is another sign the executive's plans for jobs and investment are working."

The firm was founded by Brian Conlon in 1996 and floated on the stock market in 2002.

At that time it had just 26 employees and turnover of less than 拢2m.

Based on its current share price, the firm is worth about 拢188m.

Mr Conlon continues to hold a large shareholding in the firm.

First Derivatives is one of only two stock market listed companies in Northern Ireland.