LONDON (ShareCast) - (ShareCast News) - Shares in FDM jumped over 5% on Wednesday, after the information technology services provider reported a rise in first half revenue.
The London-listed group posted a 32% increase year-on-year in revenue to £74.6m, driven higher by sharp hike in revenue in its consultant 'Mounties' service, where revenue rose 34% to £55.4m in the period.

Adjusted earnings per share were up 24% to 9.3p, while the company proposed a maiden dividend of 8p per share.

Chief executive Rod Flavell said the company was well placed to deliver good growth.

"The first half of 2015 has seen a strong performance from the group with buoyant markets, significant levels of client demand across all operating locations and Mountie deployment on client sites continuing to reach new highs," he said.

Investec said the result exceeded its expectations and held a 'buy' recommendation with a price target of 460p.

Analysts lifted their pre-tax profit estimates by 3% and said the strong growth and dividend warranted a premium valuation.

FDM shares closed up 6.07% to 437.00p on Wednesday.

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