11th Mar 2015 09:53
LONDON (Alliance News) - IT services provider FDM Group (Holdings) PLC Wednesday posted a slight decline in its pretax profit for 2014, as a rise in revenue was offset by costs related to its listing on the London Stock Exchange last June.
FDM proposed a maiden dividend per share of 7.5 pence.
The company posted a pretax profit of GBP19.0 million fpr 2014, down from GBP19.9 million in 2013, as a rise in revenue to GBP123.3 million from GBP105.6 million was offset by higher administrative expenses and GBP4.9 million in exceptional costs related to its initial public offering.
Revenue growth was driven by a strong performance from its IT services consultant arm, Mounties, which delivered revenue growth of 20% for the year.
In the UK and Ireland, the company increased its number of Mounties on site to over 1,000 and launched its Ex-Forces programme to help ex-military personnel into training and career opportunities. It said this programme had exceeded its expectations, with more than 50 individuals on placement as Mounties as at the end of 2014.
In North America the company saw a strong performance, although slower than it had anticipated as there were delays in customer-driven programmes on a number of accounts. It opened its Canada office in January.
The company said that 2015 has started well, with all parts of its business performing well.
"While it is early in the new financial year, our expectations are underpinned by continuing strong customer demand and good levels of applications for our Mountie programme, driven by a healthy marketplace and our growing reputation," said Chief Executive Officer Rod Flavell in a statement.
Shares in FDM are trading up 0.7% at 368.38 pence Wednesday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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