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FDM Group plc (FDM)

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Wednesday 28 April, 2021

FDM Group plc

AGM Statement

RNS Number : 7957W
FDM Group (Holdings) plc
28 April 2021
 

28 April 2021

FDM Group (Holdings) plc ("FDM Group" or "the Group")

AGM Statement

FDM Group, a global professional services provider with a focus on Information Technology, today holds its 2021 Annual General Meeting.

David Lister, Chair of the Board, will present the following update to the meeting:

"The Group has traded comfortably in line with the Board's expectations during the first quarter of 2021. Currently we have 3,748 Mounties placed with clients (31 December 2020: 3,580 Mounties placed with clients; 30 April 2020: 3,802 Mounties placed with clients). Mountie utilisation rates, and the numbers of Mounties who are unallocated ("beached") or who have completed their training but are awaiting their first placement ("signed-off"), have normalised. We continue to ramp up our recruitment and training programmes, which have returned to pre-pandemic levels, to meet strong and growing demand for our Mounties.

The Group's balance sheet remains strong with £50 million of cash and no debt at 31 March 2021 (31 March 2020: £44 million of cash and no debt).

The Board is confident that the Group, having responded resiliently to the recent operational and economic challenges, is well placed to achieve its expectations for the current year and to deliver long term, sustainable growth."

As previously announced, in accordance with Government guidelines and in order to safeguard the health of shareholders and other participants, only two shareholders, who are also Directors, will be physically present at the meeting.

Details of the voting on the resolutions to be proposed at the AGM will be published via the RNS later today, as well as being made available on the Company's website and submitted to the National Storage Mechanism.

This announcement may contain statements which constitute 'forward-looking statements'. Although FDM Group believes that the expectations reflected in these forward-looking statements are reasonable, it can give no assurance that these expectations will prove to have been correct. Because these statements involve risks and uncertainties, actual results may differ materially from those expressed or implied by these forward-looking statements.

ENDS

For further information, please contact:

FDM Group

Rod Flavell - Chief Executive

Mike McLaren - Chief Financial Officer

Mark Heather - Company Secretary & Head of Investor Relations

Nick Oborne (Financial Public Relations)

 

 

Tel: +44 (0)20 3056 8240

 

Tel:  +44 (0)7850 127526

 

About FDM

FDM Group is a global professional services provider with a focus on IT. Our 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" or "consultants") to clients, either on site or remotely. FDM specialises in a range of technical and business disciplines including Development, Testing, IT Service Management, Project Management Office, Data Engineering, Cloud Computing, 'Risk, Regulation and Compliance', Business Analysis, Business Intelligence, Cyber Security, AI ("Artificial Intelligence"), Machine Learning 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 make a success of launching or re-launching their careers. We have dedicated training centres and sales operations located in London, Leeds, Glasgow, New York NY, Arlington VA, Charlotte NC, Austin TX, Toronto, Frankfurt, Singapore, Hong Kong, Shanghai and Sydney. We also operate in Ireland, France, Switzerland, Austria, Spain, Luxembourg, the Netherlands, South Africa, New Zealand and Poland.

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