FDM pleased with growth in Mountie numbers at year-end

FDM updated the market on its trading for the period ended 31 December on Tuesday, saying it delivered a “good” operational performance in the second half, with the board expecting the group's financial performance for the year to be in line with its expectations.

The FTSE 250 firm closed the year with 3,747 ‘Mounties’ - its term for both specialist employees and IT contractors - placed on client sites, representing an increase of 18% year-on-year.

Total revenues for the year were £245m - an increase of 5% - whilst Mountie revenues were £239m, which was 15% higher on a reported basis and 17% on a constant currency basis.

The UK and Ireland closed 2018 with 2,004 Mounties deployed, which was 15% higher than the prior year, while North America ended the year with 1,196 Mounties deployed, up 24%.

In the Asia-Pacific region had 385 Mounties deployed at year-end, a rise of 26%, and the Europe-Middle East-Africa geography had 162 Mounties deployed, which represented growth of 5%.

The group said its balance sheet remained “strong”, with significant cash balances and no debt.

“Throughout 2018, the group has continued to invest in its people, training facilities and technology to sustain the future growth of the business,” said chief executive officer Rod Flavell.

“Market demand in all of our operating territories remains strong and we enter the current year with good momentum, including record levels of client engagement and demand.

“I anticipate that 2019 will be another year in which we deliver good operational and financial performance.”

FDM said it was planning on releasing its full year results on 6 March.