FDM Group (Holdings) (GB:FDM) has released an update.
FDM Group (Holdings) reports a 22% drop in revenue to £140.2 million and a 48% fall in profit before tax to £15.5 million for the first half of 2024, amidst challenging market conditions. The company experienced a lower consultant utilization rate and a reduction in consultants assigned to clients, while also implementing cost management measures, including exceptional costs of £2.1 million for internal staff realignment. Despite these challenges, FDM maintains a strong cash position of £36.9 million and continues to engage with clients to stabilize and grow in the latter half of the year.
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