RNS Number : 4404Z
FDM Group PLC
21 July 2008
For Immediate Release 21 July 2008
FDM Group plc
("FDM" or the "Company")
PRE-CLOSE TRADING UPDATE
For the six months ended 30 June 2008
&
Appointment of Brewin Dolphin as Nomad and Broker
"Strong first half-year trading performance"
FDM (AIM : FDMG), the international IT services business, today provides an update on its
trading for the six month period to 30 June 2008.
In continuation of FDM*s stated strategy of transforming the business into an IT services
provider the Company has continued to migrate
service delivery into higher margin areas and away from a freelance model. As a consequence
continued improvement in gross profit margins
year-on-year has been achieved.
The Mountie offering is the key component of FDM*s service proposition and we have seen strong
growth in Mountie numbers being placed with
clients. Within our freelance business, margins have continued to improve in line with our
strategy.
The London training Academy opened in January 2007 has performed well and we now plan to
increase training seat capacity in response to
current client demand. Our Manchester training Academy opened in December 2007 and is nearing
full training capacity less than a year after
opening.
Our international offices are making a solid contribution to growth as our cross-selling
efforts to our global clients continue. We will
look to these centres to contribute significantly to FDM*s longer-term growth potential.
During the period FDM has continued to make client gains and has won a number of contracts
including BT and SciSys.
To this end, trading continues in line with forecasts and the Board is confident of achieving
market expectations for the year.
Following the appointment of David Templeman as Group Finance Director in November 2007, he
has now been appointed Company Secretary. Jacs
Flavell has stepped down from this position after 17 years of service and the Board would like
to thank her for her invaluable contribution
to the Company.
The Board also confirms today the appointment with immediate effect of Brewin Dolphin Limited
as Nominated Advisor and Broker to the
Company.
Commenting on the announcement, Rod Flavell, Chief Executive Officer of FDM said:
"Overall the KPI's for our business remain strong as we continue to see increasing demand
for our "Mountie" model from our client base.Over the past six months we have developed closer relationships with our clients, particularly
those operating in the financial services
sector, as they see the true value of our in-house trained IT consultants.
Our ability to deploy modern technical skills that are in short supply worldwide and at a
cost that is otherwise unobtainable onshore
continues to gain traction and drive growth, illustrating the resilience of the FDM model even
in the current uncertain economic climate.
We enter the second half of our financial year with confidence and look forward to
updating the market in September when we announce our
interim results."
For further information please contact:
FDM Group Tel No: + 44 (0) 870 060 3100
Rod Flavell, Chief Executive
Officer
David Templeman, Group Finance
Director
Brewin Dolphin Limited Tel No: + 44 (0) 845 213 3219
Matt Davis
Alison Barrow
Buchanan Communications Limited Tel No: + 44 (0) 207 466 5000
Lisa Baderoon
Jeremy Garcia
Notes to Editors
About FDM Group plc
FDM Group Plc (LSE AIM: FDMG) is a global IT services company specialising in consulting
and training solutions. Founded in 1984, with
its HQ in the UK and a further five international offices, in 2007 FDM had over 350 employees
and revenues of £50m. The Company works with
over 200 blue-chip clients including the BBC, Barclays, HSBC, AA, RBS and British Airways.Over two thirds of FDM's employees are IT
consultants, termed 'Mounties', who have been trained as Developers in the Sun Microsystems
Java, Microsoft Cž. Net toolsets, or who have
joined the Finance Analyst or Test Analyst streams.
This information is provided by RNS
The company news service from the London Stock Exchange
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