Provider of IT consultants, FDM Group (FDM) has updated that a strong trading performance and favourable exchange rate movements see it now anticipating “full-year results ahead of its expectations” – and the shares have responded more than 9% higher to a current 624p ‘bid’ price. So not a bad tip from us...
Specialist provider of IT consultants, FDM Group (FDM) has announced results for the first half of 2016, noting a “strong” performance “is continuing into the second half… Notwithstanding the changing European political backdrop we remain confident that FDM is very well placed to meet the board's expectations for the full year”.
Post the Brexit vote and the profits warning from Interquest (0ITQ) shares in FDM (FDM) stood at 550p. They are now 450p. I have a private email from a top City analyst which explains the fall but also why the shares are cheap and a buy. It reads:
FDM Group (FDM) has updated on “a strong operational and financial performance for the first quarter of 2016”, seeing that “the board remains confident of meeting its expectations for the full year”.
FDM Group (FDM) has announced results for the 2015 calendar year and that “2016 has started well for the group and we are confident that we are well placed to deliver another year of good progress”.
Our most recent share tip, FDM Group (FDM) has updated that it “maintained its strong performance in the second half of 2015 and expects to deliver full-year results slightly ahead of the board's expectations” as well as that “we enter 2016 with good momentum and I am confident that the year will see further progress for the group”
Investment Case: Despite in its current form only listing last year, principally IT personnel provider FDM Group (FDM) is a company we have have previously followed – its shares having previously been on AIM before the group was taken private in 2010. The shares were re-listed, this time on the main market, in June 2014 at 287p and exceeded 575p a couple of months ago before slipping back to a current 530p offer price. This makes its operational growth momentum and (growing) dividend interesting and sees the shares now rated as a buy.