FDM Group PLC (LON:FDM) today announced its trading update for the period to 31st December 2018, ahead of its full year results, which will be released on 6th March 2019.
Group Trading in the Period and Closing Balance Sheet
FDM delivered a good operational performance in the second half of 2018 and the Board expects the Group’s financial performance for the year to 31st December 2018 to be in line with its expectations.
The Group closed the year with 3,747 Mounties placed on client sites (2017: 3,170), representing an increase of 18%.
Total revenues for the year to 31st December 2018 were £245 million (2017: £233 million), an increase of 5%, whilst Mountie revenues were £239 million (2017: £207 million), an increase of 15% on a reported basis and 17% on a constant currency basis.
The UK and Ireland closed 2018 with 2,004 Mounties deployed (2017: 1,744), an increase of 15%, North America closed with 1,196 Mounties deployed (2017: 965), an increase of 24%, APAC with 385 Mounties deployed (2017: 306), an increase of 26% and EMEA with 162 Mounties deployed (2017: 155), an increase of 5%.
The Group’s balance sheet remains strong with significant cash balances and no debt.
Outlook
Rod Flavell, FDM Group CEO, commented:
“Throughout 2018 the Group has continued to invest in its people, training facilities and technology to sustain the future growth of the business.
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.”
This announcement contains inside information and is subject to the completion of FDM’s 2018 formal audit process.
