(Alliance News) - FDM Group Holdings PLC said Wednesday its performance in the second half was "solid", and as a result, expects its 2020 results in line with expectations.
The London-headquartered recruitment firm said its 2020 revenue is expected to be GBP268 million, compared to GBP272 million in 2019. Adjusted pretax profit is expected at GBP42.0 million
FDM noted the firm's balance sheet remains "very strong", ending the year at GBP65 million, up from GBP37 million at the end of 2019.
The firm also noted it has declared a second interim dividend of 13.0 pence each, following the first interim dividend of 18.5p after FDM cancelled its 2019 final dividend.
"The board confirms that going forward it plans to resume the group's normal dividend policy and timetable, commencing with the final dividend for the year to December 31, 2020, which the board intends to recommend at the time of the publication of the full year results on March 10, 2021 for approval by shareholders at the 2021 AGM," FDM added.
Chief Executive Rod Flavell said: "FDM has delivered a solid performance for 2020. Although we are alert to the possible impact on client activity of further lockdowns, our agile and robust business model has allowed us to respond rapidly and effectively to the exceptional challenges the Covid-19 pandemic has brought. The current year has started promisingly with encouraging levels of demand across most sectors and geographies."
Shares in FDM Group were down 0.6% at 1,012.00 pence each in London on Wednesday morning.
By Paul McGowan; paulmcgowan@alliancenews.com
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FDM Group (FDM)