REG - FDM Group plc - AGM Statement

FDM (Holdings)Announcement

16/05/2023 07:00

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RNS Number : 4900Z  FDM Group (Holdings) plc  16 May 2023

16 May 2023

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 2023 Annual General Meeting.

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

"The Group traded in line with the Board's expectations during the first three
months of the financial year. Ongoing global macro-economic and geopolitical
uncertainty, including in particular the well-reported recent issues in the
banking and finance sector, have resulted in softer trading across our
operating territories in the second quarter. None of the Group's clients has
been directly impacted by the issues that have affected a limited number of
banking institutions, but the current uncertainty in the sector as a whole is
delaying some client decisions around Consultant placements. Levels of client
engagement however remain encouraging, and the Board is optimistic that
confidence in the banking and finance sector will improve across its markets
through the second half of the financial year.

Benefiting from FDM's scalable and flexible business model the Group has taken
appropriate measures to adjust recruitment and training to ensure continued
alignment of supply with the current demand for Consultants, and the Board's
expectations for the Group's financial performance for the year are
unchanged.

As at 30 April 2023, the Group had 4,774 Consultants assigned to clients (31
December 2023: 4,905; 30 April 2022: 4,429).

The Group's balance sheet remains strong with £47.5 million of cash and no
debt at 30 April 2023 (31 December 2022: £45.5 million of cash and no debt,
30 April 2022: £54.9 million of cash and no debt)."

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                              Tel: +44 (0)20 3056 8240

 Mark Heather - Company Secretary & Head of Investor Relations

 Nick Oborne (Financial Public Relations)                            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 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,
Machine Learning and Robotic Process Automation.

The FDM Careers Programme bridges the gap for graduates, ex-Forces, returners
and apprentices to work, providing the training and experience required to
make a success of launching or re-launching their careers. We have dedicated
training centres and or sales operations located in London, Leeds, Glasgow,
Ireland, New York NY, Charlotte NC, Austin TX, Tampa FL, Toronto, Montreal,
Frankfurt, Poland, Singapore, Hong Kong, Shanghai and Sydney. We also operate
in Luxembourg, the Netherlands, Switzerland, Austria, Spain, South Africa and
New Zealand.

 

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