FDM Group (Holdings) plc Year End Trading Update (2204B)
29 January 2020 - 6:00PM
UK Regulatory
TIDMFDM
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 GBP272 million
(2018: GBP245 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 GBP37 million (2018: GBP34 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%.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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