FDM Group trading in line amid ongoing macro uncertainty

(Sharecast News) - FDM Group said in an update on Tuesday that trading in the first quarter of 2025 was in line with expectations, but shares were sliding as it reiterated its cautious approach to recruitment and expenditure amid ongoing macroeconomic and geopolitical uncertainty. The London-listed IT services provider, which was holding its annual general meeting, noted continued hesitancy among some clients, particularly as they awaited clarity on US economic policy.

As of 30 April, the group had 2,366 consultants assigned to client projects, down from 2,578 at the end of December and 3,543 a year earlier.

The board said it was focused on controlling fixed costs and discretionary spending while preserving the capacity to respond to improving demand.

FDM reported a strong balance sheet, with £42m in cash and no debt.

Chair David Lister said the group was confident in its long-term positioning, supported by a global client base and experienced leadership, and sees potential for growth as market conditions recover.

At 0915 BST, shares in FDM Group Holdings were down 5.42% at 235.5p.

Reporting by Josh White for Sharecast.com.