29th Jul 2015 08:41
LONDON (Alliance News) - IT Services provider FDM Group (Holdings) PLC on Wednesday said it was confident it was well placed to "continue to deliver good growth" as it posted a more than doubling in pretax profit for its first half.
The company proposed a maiden interim dividend of 8.0 pence. At the time of its full-year results in March, it proposed a maiden final and full-year dividend of 7.5 pence.
For the half year to end-June, FDM posted a pretax profit of GBP13.1 million, more than doubled from GBP5.1 million a year before, as revenue rose to GBP74.6 million from GBP56.6 million. In the previous year the company had posted exceptional costs of GBP5.3 million in relation to its initial public offering.
Growth was driven by a strong performance from its IT services consultant arm, Mounties, which produced revenue growth of 34.5% for the half year, with good performances across all geographies.
The number of Mounties on site rose by 19% during the half year, and it increased the number of 'future Mounties' - meaning new recruits for its training academies, by 28%.
FDM continues to invest in training academies, opening an academy in Leeds in June, and identifying new locations in Glasgow and Toronto.
"The first half of 2015 has seen a strong performance from the group with buoyant markets, significant levels of client demand across all operating locations and Mountie deployment on client sites continuing to reach new highs," said Chief Executive Officer Rod Flavell in a statement.
Shares in FDM are trading up 0.7% at 415.00 pence Wednesday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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