FDM Group Holdings PLC - London-based IT-focused professional services provider. It recruits, trains and deploys its own permanent IT and business consultants, known as ’mounties’ - Confirms that its financial performance for 2024 will be in line with its own expectations. FDM reports a 30% fall in consultants assigned to clients as at October 31, to 2,906 from 4,136 a year ago. Further, it notes ‘somewhat improved activity’ in the past few weeks. FDM expects a boost from changes to employer’s national insurance contributions in the UK, as that ‘will make our consultants more attractive to our clients’.
It adds: ‘We anticipate that market conditions will remain uncertain as we move into 2025, and it is difficult to predict when they will improve. Consequently, the board will continue to take the appropriate measures to adjust recruitment, training, and staffing levels to align with market conditions and seek to optimise the performance of the group for all of our stakeholders.’
Current stock price: 318.16 pence per share, down 1.2% on Monday morning in London
12-month change: down 23%
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