FDM Group Regulatory News (FDM)

20 May 2025

FDM GROUP (HOLDINGS) PLC ("FDM", "THE GROUP", "FDM GROUP")

ANNUAL GENERAL MEETING STATEMENT

FDM Group, a global professional services provider with a focus on Information Technology, today holds its Annual General Meeting.

David Lister, Chair of the Board, will present the following update to the meeting:

"Group Trading in the Period and Balance Sheet

Trading in the first quarter of 2025 was in line with the Board's expectations.

We reported in our Preliminary Results announcement on 19 March 2025 that, while trading in the early part of 2025 had been encouraging, the Board considered it too early to increase investment in recruitment for a recovering market. Since then, global macroeconomic and geopolitical uncertainty has continued, together with hesitancy amongst some of our customers as they await clarity over USA economic policy.

At 30 April 2025 the Group had 2,366 Consultants assigned with clients (31 December 2024: 2,578. 30 April 2024 3,543).

The Board continues with its strategy of prudence across its fixed costs base, consultant recruitment volumes and discretionary expenditure while maintaining appropriate levels of resource and capacity to meet clients' needs promptly in current market conditions and when they improve.

The Group's balance sheet remains robust with cash balances at 30 April 2025 of £42 million (30 April 2024: £46 million). The Group has no debt.

Outlook

FDM is an agile, lean and well-capitalized business with a highly experienced Board of Directors and a wide portfolio of clients covered by FDM offices around the world. We continue to see bright spots in certain industries and geographies and remain confident that the Group is well positioned to return to growth once market conditions allow."

ENDS

Inside Information and Forward-Looking Statements

This Interim Report contains information that qualified, or may have qualified, as inside information for the purposes of Article 17 of the Market Abuse Regulations (EU) 596/2014 (MAR). This announcement may also contain statements which constitute 'forward-looking statements'. Although FDM Group believes that the expectations reflected in these forward-looking statements are reasonable, it can give no assurance that these expectations will prove to have been correct. Because these statements involve risks and uncertainties, actual results may differ materially from those expressed or implied by these forward-looking statements.

For further information, please contact: