Business
Preliminary Announcement of Results FY2024
Preliminary Announcement of Results FY2024.
About this update from Fdm Group (holdings) Plc
[{"type":"text","content":"\n\nFDM Group (Holdings) plc\nPreliminary Results\nFDM Group (Holdings) plc (\"the Company\") and its subsidiaries (together \"the Group\" or \"FDM\"), today announces its results for the year ended 31 December 2024.\n\n\n\n\n\n\n\n31 December 2024\n\n\n31 December 2023\n\n\n% change\n\n\n\n\nRevenue\n\n\n£257.7m\n\n\n£334.0m\n\n\n-23%\n\n\n\n\nAdjusted operating profit1\n\n\n£33.4m\n\n\n£49.6m\n\n\n-33%\n\n\n\n\nProfit before tax\n\n\n£28.1m\n\n\n£55.6m\n\n\n-49%\n\n\n\n\nAdjusted profit before tax1\n\n\n£34.0m\n\n\n£50.2m\n\n\n-32%\n\n\n\n\nBasic earnings per share\n\n\n18.8p\n\n\n37.3p\n\n\n-50%\n\n\n\n\nAdjusted basic earnings per share1\n\n\n23.0p\n\n\n32.9p\n\n\n-30%\n\n\n\n\nCash flow generated from operations\n\n\n£33.1m\n\n\n£61.5m\n\n\n-46%\n\n\n\n\nCash position at year end\n\n\n£40.6m\n\n\n£47.2m\n\n\n-14%\n\n\n\n\nCash conversion2\n\n\n120.7%\n\n\n111.8%\n\n\n+8%\n\n\n\n\nAdjusted cash conversion2\n\n\n116.2%\n\n\n124.1%\n\n\n-6%\n\n\n\n\nShare-based payment expense/ (credit)\n\n\n£1.1m\n\n\n(£5.4m)\n\n\nn/a\n\n\n\n\nExceptional administrative expenses\n\n\n£4.9m\n\n\n-\n\n\nn/a\n\n\n\n\nEffective income tax rate\n\n\n26.9%\n\n\n26.7%\n\n\n+1%\n\n\n\n\nDividend per share\n\n\n22.5p\n\n\n36.0p\n\n\n-38%\n\n\n\n\n \n· A resilient performance in 2024, in line with the Board's expectations, against a backdrop of very challenging market conditions.\n· Revenue decreased by 23% to £257.7 million (2023: £334.0 million) and profit before tax decreased by 49% to £28.1 million (2023: £55.6 million).\n· Consultants assigned to clients at week 523 were 34% lower at 2,578 (2023: 3,892). The split by region was: UK 1,056 (2023: 1,411); North America 742 (2023: 1,322); EMEA 256 (2023: 327); and APAC 524 (2023: 832).\n· Consultant utilisation rate4 was broadly in line at 92.9% (2023: 92.8%). Benefiting from the Group's agile business model, throughout the year steps were taken to align, as far as practicable, available resource to market demand. Consultant recruitment and the number of Consultants in our Skills Lab reduced and coaching completions (previously called training completions) were 877 (2023: 1,338).\n· We remain focused on managing our cost base. We incurred exce...