Year End Trading Update

RNS Number : 2204B

FDM Group (Holdings) plc

29 January 2020

 

29 January 2020

FDM GROUP (HOLDINGS) PLC

("FDM" or "THE GROUP")

YEAR END TRADING UPDATE

FDM today announces its trading update for the year to 31 December 2019, ahead of its full year results, which will be released on 11 March 2020.

Group Trading in the Period and Closing Balance Sheet

FDM delivered a solid performance in the second half of 2019 and the Board expects the Group's financial performance for the year to 31 December 2019 to be in line with its expectations.

The Group ended the year with 3,924 Mounties placed on client sites (2018: 3,747), representing an increase of 5%.

Revenue for the year to 31 December 2019 was £272 million (2018: £245 million), an increase of 11% (on a constant currency basis 12%). Contractor revenue is no longer material.

The UK and Ireland* closed 2019 with 1,910 Mounties deployed (2018: 2,004), a decrease of 5%. Reduced demand during the year from UK Government Ministerial Departments in advance of clarity over Brexit and political leadership changes offset good progress made in other sectors in the territory.

North America closed with 1,277 Mounties deployed (2018: 1,196), an increase of 7%, APAC with 497 Mounties deployed (2018: 385), an increase of 29% and EMEA* with 240 Mounties deployed (2018: 162), an increase of 48%.

The Group's balance sheet remains strong with closing cash balances of £37 million (2018: £34 million) and no debt.

*Reflecting a change in management reporting, 30 Mounties included within UK and Ireland Mounties deployed as at 30 June 2019 have been re-allocated to EMEA Mounties deployed as at 31 December 2019. There is no change to the reported 31 December 2018 Mounties deployed.    

Outlook

Rod Flavell, Group CEO, commented:

"FDM delivered a solid performance in 2019. 2020 has started promisingly with strong levels of activity and client demand across all geographies and we look forward to a further year of good progress."

This announcement contains inside information and is subject to the completion of FDM's 2019 formal audit process.

ENDS

Enquiries:

For further information:

Rod Flavell - CEO	020 3056 8240
Mike McLaren - CFO	020 3056 8240
Mark Heather - Company Secretary	020 3056 8240
Nick Oborne - Financial Public Relations	07850 127526

About FDM

FDM's mission is to bring people and technology together, creating and inspiring exciting careers that shape our digital future.

The Group's principal business activities involve recruiting, training and deploying its own permanent IT and business consultants (Mounties) at client sites. FDM specialises in a range of technical and business disciplines including Development, Testing, IT Service Management, Project Management Office, Data Services, Business Analysis, Business Intelligence, Cyber Security and Robotic Process Automation.

The FDM Careers Programme bridges the gap for graduates, ex-Forces and returners to work, providing them with the training and experience required to successfully launch or re-launch their career. FDM has dedicated training centres and sales operations located in London, Leeds, Glasgow, New York NY, Herndon VA, Charlotte NC, Austin TX, Toronto, Frankfurt, Singapore, Hong Kong and Sydney. FDM also operates in Ireland, France, Switzerland, Austria, Denmark, Spain, Luxembourg, the Netherlands, China and South Africa.

FDM is a strong advocate of diversity and inclusion in the workplace, with over 85 nationalities working together as a team. The UK business' Gender Pay Gap Report 2019 showed a median pay gap of  

-1.7%.

 

END

 

 

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