11th Mar 2020 08:24
(Alliance News) - IT consultant and recruiter FDM Group Holdings PLC on Wednesday raised its payout and reported full-year double-digit revenue growth.
In 2019, revenue rose 11% to GBP271.5 million from GBP244.9 million, with pretax profit up 8.9% to GBP52.5 million from GBP48.2 million.
Chief Executive Rod Flavell said: "The strength and flexibility of our business model enabled FDM to deliver a solid performance in 2019 against a backdrop of challenging conditions in certain of our markets."
FDM upped its dividend by 15% to 34.5 pence per share from 30.0p.
The majority of FDM's revenue was generated by its "Mountie" function, where it recruits, trains and deploys its own permanent IT and business consultants to customer premises.
Mountie revenue rose 12% in 2019 to GBP268.2 million from GBP239.0 million.
FDM added: "2020 has started promisingly and in line with management expectations, with strong levels of client activity and demand. We anticipate a further year of good operational and financial progress. The coronavirus is presenting us with a range of challenges relating to remote working, attendance on client sites and mobility for our trainers; the financial impact to date of these has not been significant, but we continue to monitor the situation closely."
Shares in the company were up 0.7% at 833.00p each in London on Wednesday morning.
By Eric Cunha; [email protected]
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