Trading Statement
FDM Group (Holdings) plc anticipates its financial performance for the year ending 31 December 2025 will be within market expectations, with revenue projected at £178 million, a 31% decrease from £258 million in 2024. The company ended the year with 2,003 consultants placed with clients, down from 2,578 in the prior year, and reported closing cash balances of £35 million with no debt. Despite a challenging trading year, the Group noted an encouraging uptick in activity levels in the latter part of 2025 that shows signs of continuing into early 2026, though market conditions remain subdued.
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FDM Group, a global professional services provider with a focus on Information Technology, today provides a trading update for the year to 31 December 2025, ahead of its full year results, which will be released on 18 March 2026.
Group Trading in the Period and Closing Balance Sheet
The Board anticipates that the Group's financial performance for the year to 31 December 2025 will be within the range of market expectations1.
2025 was, much like the preceding two years, a challenging trading year. The Board has continued its focus on aligning resource levels to match client demand, as far as practicable, tailored to the specifics of each geographical operating market. As highlighted in the Group's trading update in November 2025, this included a cautious increase in the volume of consultants in training in the UK, North America and Australia in response to a degree of pick up in activity levels in some of our key operating geographies in the latter part of the year; the Group delivered 828 training completions during 2025 (2024: 877 training completions).
Revenue for the year to 31 December 2025 is expected to be £178 million, down 31% (30% on a constant currency basis) in comparison to the prior year (2024: £258 million).
The Group ended the year with 2,003 Consultants placed with clients (2024: 2,578). The UK closed with 910 Consultants deployed (2024: 1,056); North America closed with 500 Consultants deployed (2024: 742); APAC closed with 469 Consultants deployed (2024: 524); and EMEA closed with 124 Consultants deployed (2023: 256).
The Group's balance sheet remains robust with closing cash balances of £35 million (2024: £41 million). The Group has no debt.
Outlook
Rod Flavell, Group CEO, commented:
"We have been encouraged that the uptick in activity levels which we saw in the last four months of 2025 shows signs of continuing into early 2026. Clearly, the economic and political backdrops remain uncertain and market conditions remain subdued, but there are signs that an appreciable number of our clients have appetite for investment, with some of them already initiating activity.
Your Board will continue to align resources with demand, be prudent with investment and mindful of continuing market uncertainties. We are focussed on enabling FDM's return to growth as soon as our markets allow."
1Company-compiled range of analysts' expectations for FY25 Adjusted Profit Before Tax is £13.5m to £14.4m.
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