FDM Group Results
The Board of FDM Group plc has announced its preliminary results for the year ended 31 December 2008.
Revenues increased by 4.7% to 52.2 million (2007: 49.8 million).
Gross profit increased by 22.1% to 13.7 million (2007: 11.2 million).
Overall gross margins increased to 26.2% (2007: 22.5%).
Operating margin increased to 9.6% (2007: 8.1%).
Profit before tax 5.3 million (2007: 4.3 million), representing an increase of 23%
Fully diluted earnings per share of 15.7p (2007: 12.0p), representing an increase of 31%.
Final dividend of 2.5p per share, making a total dividend of 3.5p per share (2007: 2.7p), representing an increase of 30%.
Net cash and cash equivalents increased to 10.1 million (2007: 6.0 million).
Debtor days reduced to 57 days (2007: 59 days).
High customer retention continues.
Positive new business momentum.
Mountie utilisation rates sustained, at 97.7% (2007: 98.3%).
Further expansion of academy model.
- First full-year impact of Manchester Academy.
- Significant expansion of London Academy for 2009 now complete.
Current trading remains in line with market expectations.
Winner at the IITT Awards - Training Department of the Year 2009.
Winner at the SBA Awards - Sussex Company of the Year 2008/09.
Finalist at the BCS Awards - Young IT Practitioner of the Year 2008.
Finalist at the Computing Awards for Excellence - Services Supplier of the Year 2008.
Rod Flavell, Chief Executive of FDM Group, commented:
"Against a background of continued economic uncertainty and turbulent financial markets, FDM produced another record year driven by demand for our Mountie offering which resulted in strong sales and profit growth.
At a time when many organisations are focussing on their cost base, our highly skilled consultants and value led offering continues to provide a compelling proposition. Clearly there is still much market uncertainty, but our new business pipeline remains strong and our key performance indicators continue to highlight the robust nature of our business model."