10th Mar 2021 09:07
(Alliance News) - FDM Group Holdings PLC on Wednesday reported a double-digit profit decrease in 2020 amid a drop in the number of new clients.
The London-based professional services company reported a slight decline in revenue for 2020, down 1.4% to GBP267.7 million from GBP271.5 million reported for 2019. Pretax profit dropped by 22% year-on-year to GBP41.0 million.
FDM Group said its "agile and robust" business model enabled it to respond to changing conditions, including the move to remote recruitment and training. FDM's Mounties, the consultants the company normally dispatches to customer premises, worked for clients remotely instead.
During 2020, the company said 52 new clients were secured globally compared to 97 in 2019.
FDM Group declared dividend per shares of 46.5 pence, up from 16.0p paid the year before.
Going forward, the company said 2021 has started well, with good levels of demand and strong deal volumes across most of its geographies.
"2020 saw FDM Group deliver a solid operational and financial performance in the light of the exceptional challenges presented by the Covid-19 pandemic," said Chief Executive Rod Flavell.
"I am confident that the group is well positioned to deliver good progress in the current year," added Flavell.
The stock was trading 1.9% higher in London on Wednesday morning at 1,088.00p a share.
By Evelina Grecenko; [email protected]
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