Organisations looking to brush up on business analytics and cyber security continue to flock to FDM (FDM). The group, which recruits and trains IT consultants called 'Mounties' and places them with clients, revealed a 23 per cent rise in adjusted operating profits to £16.6m in the reported period.
The number of Mounties deployed on clients' sites leapt by more than a third to over 2,450 on 30 June 2016, driving Mountie revenues up 38 per cent to about £77m. Those gains reflected FDM's focus on bolstering its ranks - it expanded global training capacity by 40 per cent - and tapping into new industries and territories.
Indeed, the opening of a larger training academy and sales office in Glasgow helped to boost Mountie headcount in the UK and Ireland by a quarter, fuelling a 27 per cent rise in domestic turnover. Similarly, Mountie revenues in North America soared 72 per cent as the group expanded its academies in New York and Toronto and opened one in Reston, Virginia.
Broker Investec predicts the group will have more than 2,750 Mounties by the end of 2016. It expects adjusted pre-tax profit of £35.1m at the December year-end, giving EPS of 24.7p, up from £30.1m and 21p in 2015.
| FDM (FDM) | ||||
|---|---|---|---|---|
| ORD PRICE: | 620p | MARKET VALUE: | £667m | |
| TOUCH: | 610.5-620p | 12-MONTH HIGH: | 655p | LOW: 406p |
| DIVIDEND YIELD: | 2.9% | PE RATIO: | 28 | |
| NET ASSET VALUE: | 44p* | NET CASH: | £19.1m | |
| Half-year to 30 Jun | Turnover (£m) | Pre-tax profit (£m) | Earnings per share (p) | Dividend per share (p) |
|---|---|---|---|---|
| 2015 | 74.6 | 13.1 | 9.2 | 8.0 |
| 2016 | 86.5 | 15.5 | 10.7 | 9.3 |
| % change | +16 | +18 | +16 | +16 |
Ex-div: 25 Aug Payment: 23 Sep *Includes intangible assets of £19.5m, or 18p a share †Excludes special dividend of 5p in 2015 | ||||
