(Alliance News) - FDM Group Holdings PLC on Thursday reported that its results for 2021 were "comfortably" in line with expectations, showing a good recovery from the pandemic.
FDM London-based professional services provider with a focus on IT. Its principal business activities involve recruiting, training and deploying its own permanent IT and business consultants, also known as "mounties."
In 2021, the recruitment and training company posted a pretax profit of GBP41.4 million, up slightly by 1% from GBP41.0 million the year before.
This was on revenue that remained essentially flat at GBP267.4 million, down 0.1% from GBP267.7 million in 2020.
FDM described its performance as "solid" and said that the results were in line with expectations. It added that its performance also showed a good recovery from the negative impact of the pandemic.
"Throughout the year, we consistently saw average weekly deal volumes exceed expectations. We experienced strong client demand across the majority of our markets, most notably in the UK and the Asia Pacific, and the levels of beached and signed-off mounties returned to pre-pandemic levels," it said.
The firm declared a final dividend of 18.0 pence per share, bringing its total payout to 33.0p. This represents a 29% decrease from 46.5p paid to shareholders in 2020.
FDM said that this year has started well, with very strong demand for its mounties across all its geographies and "excellent" levels of deal volumes.
Looking ahead, FDM plans to significantly increase the numbers of mounties it trains and deploys. Further, it intends to accelerate its internal staff recruitment and other internal development programmes, with a particular focus on its sales and Academy training teams.
"FDM made good progress in 2021, with the numbers of mounties trained during the year and of mounties in training at the year-end both a record high," Chief Executive Rod Flavell said.
"We have seen client ordering patterns at greater levels than ever before with established and new clients of the group looking for very significant quantities of mounties, across a broad range of skill sets. Notwithstanding the wider geopolitical issues ongoing in the world, the group is well placed to deliver a good performance in 2022 and beyond."
Shares were up 2.2% at 931.00 pence each on Thursday morning in London.
By Abby Amoakuh; abbyamoakuh@alliancenews.com
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FDM Group (FDM)