16th Jun 2020 09:19
(Alliance News) - IT consultant and recruiter FDM Group Holdings PLC on Tuesday said trading since the end of first-quarter was in line with board's revised expectations, and the company's cash position remains strong with no debt.
"Following the group's first-quarter trading and Covid-19 update given on April 30, 2020, the group has traded comfortably in line with the board's revised expectations," Chief Executive & Chair Rod Flavell said in his annual general meeting statement.
In April, the London-based company had said it was unable to estimate with any degree of precision the extent of the impact on its earnings in 2020 from the Covid-19 pandemic.
Flavell on Tuesday also said that Mounties placed with clients at June 15 were 3,706, down from 3,812 Mounties placed with clients a year ago.
The company has both freelance IT contractors and its own employees known as Mounties. The company has focused on growing Mountie numbers and revenue, while keeping freelancers "ancillary to the group".
FDM had GBP53 million in cash and no debt.
Shares in the company were untraded at 854.00 pence each in London on Tuesday morning.
By Tapan Panchal; [email protected]
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