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FDM Group plc (FDM)

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Thursday 26 April, 2018

FDM Group plc

AGM Statement

RNS Number : 1549M
FDM Group (Holdings) plc
26 April 2018
 

26 April 2018

FDM Group (Holdings) plc

AGM Statement

 

FDM Group (Holdings) plc ("FDM" or the "Group"), an international professional services provider focusing principally on information technology, today holds its 2018 annual general meeting.

Ivan Martin, Chairman, will present the following update to the meeting:

"Group trading in the first quarter of 2018 has been in line with the Board's expectations and reflects the expected and planned improvement in the quality of the Group's income, with a reduction in lower margin contractor revenues and increased higher margin Mountie revenues. Mountie revenues for the quarter to 31 March 2018 were 13% higher than the corresponding 2017 quarter (constant currency basis 17%) and total revenues for the quarter are down 1% from the corresponding 2017 quarter (constant currency up 3%). At the start of this week Mounties deployed on client sites stood at 3,310 (corresponding week 2017: 2,826 Mounties deployed on client sites).  The Group's balance sheet remains strong with significant cash balances and no debt.

 

During the early part of the year we have seen good client engagement across our operating locations and the Board is confident that 2018 will see the Group deliver against its operational and financial targets."

 

NOTE:  In 2018 the Good Friday public holiday fell within the quarter whilst in 2017 both Good Friday and Easter Monday fell outside of the quarter.

 

 

This announcement contains inside information that qualified, or may have qualified, as inside information for the purposes of Article 17 of the Market Abuse Regulation (EU) 596/2014 (MAR).

 

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For further information please contact:

FDM Group (Holdings) plc

Rod Flavell - CEO

Mike McLaren - CFO

020 7067 0000 (today)

0203 056 8240 (thereafter)

Weber Shandwick

Nick Oborne

020 7067 0000

 

About FDM

FDM is a global professional services provider with a focus on 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 career. 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 over 75 nationalities working together as a team. The Group became an early adopter of the UK's Gender Pay Gap reporting policy, being the sixth company in the UK to release its figures and reporting a median pay gap of 0%. FDM was featured as one of the Best Employers for Race by Business in the Community and in the first Social Mobility Employer Index by the Social Mobility Foundation and Social Mobility Commission in 2017. FDM was also recognised as Company of the Year at the TechWomen50 Awards 2017.


This information is provided by RNS
The company news service from the London Stock Exchange
 
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