FDM GROUP (HOLDINGS) PLC
('FDM' or 'the Group')
PERIOD END TRADING STATEMENT
FDM today announces its period end trading update to 31st December 2017, ahead of its full year results which will be released on 7th March 2018.
Group Trading in the Period and Closing Balance Sheet
FDM performed well in the second half of the financial year and the Board now anticipates that the Group's performance for the year to 31st December 2017 will be ahead of its previous expectations.
The Group closed the year with 3,170 Mounties placed on client sites (2016: 2,705) representing an increase of 17%.
Total revenues for the year to 31st December were £233 million (2016: £189.4 million), representing an increase of 23%. Mountie revenues were £207 million (2016: £167.3 million), an increase of 23%.
In the UK, the closing number of Mounties deployed on client sites was 1,744 (2016: 1,505), an increase of 16%, whilst North America closed the period with 965 (2016: 832), an increase of 16%. APAC closed the period with 306 (2016: 233), an increase of 30%, and EMEA closed the period with 155 (2016: 135), an increase of 15%.
The Group's balance sheet remains strong with no debt and significant cash balances.
Rod Flavell, Group CEO, commented:
'2017 saw the Group deliver a strong performance whilst continuing its strategy of investing for long term growth. We exited 2017 with positive demand in all of our markets, including encouraging growth in new market verticals.
2018 will see the Group continue to invest to deliver long term, sustainable growth, increasing capacity in existing territories whilst also building its presence in some of its more nascent territories.
I anticipate that 2018 will be another year in which FDM delivers good operational and financial performances.'
This announcement contains inside information and is subject to completion of FDM's 2017 formal audit process.
For further information:
Rod Flavell - CEO
Mike McLaren - CFO
020 3056 8240
020 3056 8240
Nick Oborne/ Tom Jenkins
020 7067 0000
FDM Group (Holdings) plc ('the Company') and its subsidiaries (together 'the Group' or 'FDM') is a global professional services provider with a focus on Information Technology ('IT'). FDM brings people and technology together; creating and inspiring exciting careers that shape our digital future.
The Group's principal business activities involve employing, training and placing its own permanent IT and business consultants ('Mounties') at client sites. The Group also supplies contractors to clients, either to supplement its own employed consultants' skill sets or to provide additional experience where required. 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 and Cyber Security.
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 careers. FDM has dedicated training centres and sales operations located in London, Leeds, Glasgow, New York, Virginia, Toronto, Frankfurt, Singapore and Hong Kong. FDM also operates in China, Ireland, France, Switzerland, Austria, Denmark, Spain, Australia and South Africa. FDM is a strong advocate of diversity and inclusion in the workplace, with 75+ nationalities working together as a team.