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FDM Group (AIM: FDMG) - interim results weren’t bad but it’s currently all about the offer!
Posted 18/08/09
The international IT services business known for its so called ‘Mounties’ announced its interim results for the six month period to 30th June 2009.
While the gross profit increased 6.5% to £6.92m, profit before tax decreased 7.7% to £2.20m with costs associated with expanding the London office pulling profits down. Diluted earnings per share decreased 4.5% to 6.4p with the interim dividend maintained at 1.0p per share.
Profit before tax of £2.2m resulted in an operating cash inflow of £454,000 and net cash at the period end of £9.46m (31st Dec 2008: £10m).
During the period the group increased its team of ‘Mounties’ to 302 (FY 2008: 293).
The Chief Exec commented that markets remain fragile with the number of chargeable staff deployed behind management’s expectations and margin pressures looming, particularly within the freelance contractors.
On 4th June 2009 FDM announced that it was in discussions with its management in respect of a possible offer; these discussions continue.
This entry was posted 2 years, 5 months ago and was filed under FDM Group.
