REG - FDM Group plc - Trading Update

FDM (Holdings)Announcement

18/11/2024 07:00

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RNS Number : 5198M  FDM Group (Holdings) plc  18 November 2024

18 November 2024

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.

Against a background of continuing market uncertainty since the publication of
our Interim Results announcement on 31 July 2024, the Board confirms that it
anticipates that the Group's financial performance for the full year 2024 will
be in line with its expectations.

The Board is maintaining its focus on ensuring that the Group retains its
critical core of experienced internal staff, while aligning our levels of
Consultant resource to meet our clients' needs. There were 2,906 Consultants
assigned to clients at 31 October 2024 (31 October 2023: 4,136), (30 June
2024: 3,469).

The Group has a robust balance sheet, with £47.7 million of cash at 31
October 2024 (31 October 2023: £35.3 million), (30 June 2024: £36.9 million)
and no debt. An interim dividend of £0.10 per share, amounting to £10.9
million, was paid on 1 November 2024 (2023: £0.17 per share, amounting to
£18.5 million, paid on 13 October 2023).

We have seen in the past few weeks somewhat improved activity, to differing
levels across our geographies, but it is too early to judge whether this will
be sustained. We anticipate that the changes to Employer's National Insurance
Contributions announced in the recent UK Government Budget, together with
those to employee rights, will make our Consultants more attractive to our
clients, but there will be a lag before the former can be reflected in
increased rates for our clients.

We anticipate that market conditions will remain uncertain as we move into
2025 and it is difficult to predict when they will improve. Consequently, the
Board will continue to take the appropriate measures to adjust recruitment,
training, and staffing levels to align with market conditions and seek to
optimise the performance of the Group for all of our stakeholders.

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 may contain statements which constitute 'forward-looking
statements'. Although the 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.  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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