Shares in FDM Group have recovered today after the IT-focused professional services provider reported its annual results.
The London-headquartered PLC said for the year to 31st December 2025 it expects financial performance to be within the range of market expectations.
Revenue is expected to be £178 million, down 31% in comparison to the prior year (2024: £258m).
Its share price is up 12% today (writing at 12pm), at 162 pence, giving it a market cap of £178m.
Shares remain down 17% over six months and 39% over the last 12 months.
Its share price had dropped dramatically last July after releasing its half-year results and notifying the market that its full-year expectations would be significantly lower than previously thought.
Late last year FDM blamed the impact of economic and geopolitical uncertainty for undermining client confidence, which impacted the length of their decision cycles and demand for its consultants.
However, since summer 2025 it noted a degree of pick-up in activity levels in some of its key operating geographies and ‘cautiously’ increased the volume of consultants in training in the UK, North America and Australia.
The group said this morning it had ended the year with 2,003 consultants placed with clients (2024: 2,578). The UK had 910 consultants (2024: 1,056); North America 500 (2024: 742); APAC 469 (2024: 524); and EMEA 124 (2023: 256).
“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,” it stated.
The group delivered 828 training completions during 2025 (2024: 877) while the closing cash balance was £35m (2024: £41m). It has no debt.
Rod Flavell (pictured), 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 focused on enabling FDM’s return to growth as soon as our markets allow.”