REG - FDM Group plc - Trading Statement

FDM (Holdings)Announcement

13/11/2023 07:00

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RNS Number : 1597T  FDM Group (Holdings) plc  13 November 2023

13 November 2023

FDM GROUP (HOLDINGS) PLC ("FDM GROUP", "FDM" or "THE GROUP")

TRADING UPDATE

FDM Group, a global professional services provider with a focus on Information
Technology, today provides the following trading update.

Since the publication of our Interim Results announcement on 26 July 2023,
macro-economic and geo-political uncertainty has continued to cause clients to
delay and defer decisions around project commencements and Consultant
placements. Nonetheless, levels of client engagement continue to give us
encouragement and there are some signs that confidence is slowly beginning to
return, albeit varying by geography.

The systemic shortages of technology skills in all the geographies in which
FDM operates remain and provide a supportive backdrop for FDM. In light of
this, we are focussed on ensuring that the Group has appropriate levels of
high-quality resource, with the optimal blend of skills, to be well positioned
to meet clients' needs as market conditions and demand improve.

Consultants assigned to clients at the end of October 2023 were 4,136 (end of
October 2022: 5,014), (30 June 2023: 4,602).

The Group has a robust balance sheet, with £35.3 million cash at 31 October
2023 (31 October 2022: £34.4 million), (30 June 2023: £38.1 million), and no
debt. An interim dividend of £0.17 per share, amounting to £18.5 million,
was paid on 13 October 2023.

FDM's scalable and flexible business model has enabled the Board to take the
appropriate measures to adjust recruitment, training, and staffing levels to
align with the current market conditions. As a result, the Board anticipates
that the Group's overall financial performance for the full year 2023 will be
broadly in line with its expectations. The performance for 2024 will, however,
be impacted by a lower than previously anticipated number of consultants
assigned to clients at the beginning of the year.

ENDS

For further information, please contact:

 FDM Group

 Rod Flavell - Chief Executive Officer

 Mike McLaren - Chief Financial Officer                             Tel: +44 (0)20 3056 8240

 Mark Heather - Group Governance Director & Company Secretary
 Financial PR

 Nick Oborne                                                        Tel: +44 (0)7850 127526

 

Forward-Looking Statements

This Trading Update contains statements which constitute "forward-looking
statements". Although the Group believes that the expectations reflected in
these forward-looking statements are reasonable at the time they are made, it
can give no assurance that these expectations will prove to be correct.
Because these statements involve risks and uncertainties, actual results may
differ materially from those expressed or implied by these forward-looking
statements. Subject to any requirement under the Disclosure Guidance and
Transparency Rules or other applicable legislation, regulation or rules, the
Group does not undertake any obligation to update or revise any
forward-looking statements, whether as a result of new information, future
events or otherwise. Neither shareholders nor prospective shareholders should
place undue reliance on forward-looking statements, which speak only as of the
date of this Trading Update.

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