Profits up at listed FDM Group
IT-focused professional services firm FDM Group has reported a boost in profits and revenue.
The listed group, which is headquartered in London, grew revenue five per cent to £244.9 million while adjusted operating profit rose eight per cent to £51.3m.
FDM Group, which focuses on IT and business recruitment for graduates and veterans, saw the biggest growth in its UK and Ireland business with £36.7m of the profits coming from that region, a rise of 17 per cent.
Its operations in North America, EMEA (excluding the UK and Ireland) and Asia Pacific also grew.
"Throughout 2018 the group invested in its people, training facilities and technology to sustain the future growth of the business,” said CEO Rod Flavell.
“The board is confident that the continuing strong levels of demand for FDM's services across all of our territories and the momentum with which we have commenced the new year will enable the group to deliver further good operational and financial progress in 2019."
FDM recruits, trains and deploys its own permanent IT and business consultants – known as ‘Mounties’ – at the sites of its clients.
The Group also supplies contractors to clients, either to supplement its own employed consultants' skill sets or to provide additional experience where required.
Its services include development, testing, data services, business intelligence, cyber security and robotic process automation.
The group said its financial position remains robust with a closing cash balance of £33.9m and no debt.
Chairman Ivan Martin has retired from the board and has been replaced by previous non-executive director David Lister.