LONDON (ShareCast) - (Sharecast News) - FDM Group saw a big drop in revenues and profits in 2024, but shares rose strongly on Wednesday after the tech consultancy pointed to an "encouraging" start to 2025.
Chief executive Rod Flavell said the company had seen a "modest uptick in client demand across the majority of the regions in which we operate" so far this year. However, he said it was still too difficult to predict the timing of a sustained recovery in FDM's end-markets.

As reported in a pre-close update in January, full-year revenues were down 23% at £257.7m against a backdrop of "very challenging market conditions".

Clients assigned to clients by year-end were down 34% on the previous year at 2,578, with big declines across every geographic region.

Adjusted pre-tax profits were down 32% at £34m. However, reported profits were 49% lower at £28.1m, with the company incurring £4.9m in one-off costs to "better align" internal staff and undeployed consultants with current market dynamics.

FDM ended the year with £40.6m in cash, compared with £47.2m previously, and no debt. A final dividend of 12.5p per share was declared, taking the full-year payout to 22.5p. While down from the 36p payout in 2023, broker Shore Capital said the dividend "is slightly above the levels that the group's policy would have dictated".

Shares were up nearly 10% at 243p by 0904 GMT, rebounding strongly after a near-30% plunge since the start of 2025.

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