UK's FDM Group dives on downbeat annual outlook

FDM (Holdings)

20/03/2024 09:34

** Shares of FDM Group  FDM.L  fall 7.3% to near 9-year low
of 362p, top pct loser on FTSE smallcaps  .FTSC  index 
    ** UK-based professional services provider sees financial
performance for 2024 "materially below" previous expectations 
    ** Year-to-date activity levels are below previous
expectations -co 
    ** Says macroeconomic and geopolitical uncertainties
impacted client confidence, causing them to defer decisions
relating to project commencements and consultant placements 
    ** Posts FY adjusted operating profit of 49.6 mln pounds
($62.9 mln), down 5% from last year 
    ** Shares hit lowest level since April 2015
    ** Stock was down ~39% in 2023 


($1 = 0.7881 pounds)

 (Reporting by Prerna Bedi in Bengaluru)
 ((Prerna.Bedi@thomsonreuters.com; +91 98052 24616;))