6th Mar 2019 09:16
LONDON (Alliance News) - FDM Group Holdings PLC on Wednesday reported double-digit profit growth but said it is difficult to predict the potential impact of Brexit on the company.
The recruitment and employee training provider said pretax profit rose 11% to GBP48.3 million in 2018 compared to GBP43.7 million reported in 2017, as revenue increased by 4.8% to GBP244.9 million from GBP233.6 million.
FDM upped its annual dividend by 15% to 30.0 pence from 26.0p paid the year before.
Overheads increased to GBP70.5 million from GBP60.5 million a year earlier, reflecting FDM's investment in its management, support, recruitment, sales and training teams, with average headcount rising to 561 in 2018 from 447 in 2017.
Looking ahead, FDM said Brexit has created some uncertainty in the economy and it is difficult to predict the medium to long term potential impact on the company.
"Throughout 2018 the group invested in its people, training facilities and technology to sustain the future growth of the business," said Chief Executive 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," added Flavel.
FDM shares were trading 0.5% higher on Wednesday at 855.00p each.
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