Interim Management Statement

RNS Number : 0508V

FDM Group (Holdings) plc

23 October 2014

 

23 October 2014

FDM GROUP (HOLDINGS) PLC

INTERIM MANAGEMENT STATEMENT

FDM Group (Holdings) plc ("FDM" or "the Group"), the international IT services provider, today publishes its Interim Management Statement covering the period from 1^st July 2014 to the date of this release.

The Group continues to trade well. Total Group revenue for the three months to 30^th September 2014 increased by 18.4% over the corresponding 2013 period, with Mountie* revenues up by 20.1%. Mountie utilisation for the three month period was 99.1% (2013: 98.2%). Mounties deployed on client sites as at week 43 (commencing 20^th October 2014) stood at 1,488 (2013: week 43; 1,133 Mounties), with a total deployed headcount of 1,805 (2013: week 43; 1,416). FDM remains confident of delivering against the Board's expectations for the year.

The Group has a robust balance sheet with positive cash balances and no debt.

Rod Flavell, Chief Executive Officer, commented:

"I am delighted that 2014 continues to see FDM deliver strong operational and financial performances. The opening of new offices and expansion of our academies this year has allowed us to add more new clients to the roster and better service our existing clients. Client demand continues to be strong in all of our operational locations and I remain confident that the Group is well placed to continue to make good progress."

The Group intends to report its full year results to 31^st December 2014 on 11^th March 2015.

* FDM meets the demands of its customers through the provision of suitably qualified full time employed consultants, known internally as Mounties.

ends

For further information:

FDM	Rod Flavell - CEO Mike McLaren - CFO	020 7067 0000 (today) 0203 056 8240 (thereafter)
Weber Shandwick	Nick Oborne/ Tom Jenkins	020 7067 0000

Note to Editors

FDM is an IT services provider. Operating from offices in London, Manchester, Glasgow, New York, Toronto, Frankfurt and Hong Kong, FDM specialises in recruiting, training and deploying its own permanent IT consultants ("Mounties") across six core service areas: Development, Testing, Project Management, Data Analysis, Application Support and Infrastructure. 

With a large number of blue chip clients across its operational territories FDM meets the demands of its customers through the provision of suitably qualified full time employed consultants. FDM's business model has evolved into the current Mountie model over a number of years through a process of refinement and enhancement such that today FDM looks principally to recruit:

·      Graduates local to each of the territories in which it operates, typically but not exclusively training them in-territory and then deploying them onto client sites within the same territory; and

·      Ex-military personnel local to each of the territories in which it operates, training them as IT consultants in that territory and deploying them on client sites in the same territory.

FDM strongly supports the recruitment of women into the IT industry and helping their advancement through the 'Women in IT' initiative.

 

END

 

 

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