FDM's move to reposition itself as a high margin IT service provider has begun to bear fruit. The number of Mounties - internally trained permanent staff that are contracted to clients - being placed with clients increased by almost 30 per cent to a record 246 in the first half, with utilisation rates remaining high at 97.8 per cent.
IC TIP:
Buy
at
79p
Meanwhile contractor numbers declined 11 per cent to 411 alongside the planned move away from lower margin higher volume business. This transition has worked well, with gross margins improving 4.7 percentage points to 25.6 per cent, which is comfortably higher than average IT staffing sector margins of around 20 per cent.