UK's FDM Group sinks to about nine-year low after lowering estimates

FDM (Holdings)

20/03/2024 08:58

** Shares of IT services provider FDM Group  FDM.L  down as
much as 11.7% at 345p; lowest in nearly nine years
    ** Top pct loser on FTSE small caps index  .FTSC 
    ** Sees 2024 financial performance to be materially below
its earlier expectations
    ** Says market conditions in early months of FY24 have
remained soft
    ** Adds, year-to-date activity levels are below previous
expectations
    ** FY adj profit before tax falls 3% to 50.2 mln pounds 
($63.72 mln)
    ** Shares down 20% YTD, including session moves


($1 = 0.7878 pounds)

 (Reporting by Anchal Rana in Bengaluru)
 ((Anchal.Rana@thomsonreuters.com; +91 9915609050;))