FDM Group set to end another tough year within expectations

(Sharecast News) - FDM Group said on Wednesday that it expected full-year performance for 2025 to be within the range of market expectations, as it reported a sharp fall in revenue and consultant deployments amid what it described as a third consecutive year of challenging trading conditions. Revenue for the 12 months ended 31 December was expected to be £178m, down 31% from £258m a year earlier, or 30% on a constant currency basis.

The London-listed group ended the year with 2,003 consultants placed with clients, compared with 2,578 at the end of 2024, reflecting subdued demand across key markets despite some improvement in activity levels late in the year.

By region, the UK closed the year with 910 consultants deployed, down from 1,056 in 2024, while North America finished with 500 consultants compared with 742 a year earlier.

In the Asia-Pacific region, deployments fell to 469 from 524, and in EMEA consultant numbers declined to 124 from 256.

FDM said it delivered 828 training completions during 2025, compared with 877 in the prior year, after taking a cautious approach to increasing consultant numbers in training in response to a modest pickup in demand in the second half.

The board said it had continued to focus on aligning resource levels with client demand across its geographical markets, noting that 2025, like the previous two years, remained a difficult trading environment.

Despite the revenue decline, the group said its balance sheet remained robust, with closing cash balances of £35m at year end, down from £41m in 2024, and no debt.

Chief executive Rod Flavell said recent trading trends had been more encouraging.

"We have been encouraged that the uptick in activity levels which we saw in the last four months of 2025 shows signs of continuing into early 2026," he said.

He added that "the economic and political backdrops remain uncertain and market conditions remain subdued, but there are signs that an appreciable number of our clients have appetite for investment, with some of them already initiating activity."

Looking ahead, Flavell said the board would remain cautious.

"Your board will continue to align resources with demand, be prudent with investment and mindful of continuing market uncertainties.

"We are focussed on enabling FDM's return to growth as soon as our markets allow," he said.

FDM said its full-year results for 2025 would be released on 18 March.

The company-compiled range of analysts' expectations for adjusted profit before tax was £13.5m to £14.4m.

At 0844 GMT, shares in FDM Group Holdings were up 8.68% at 157.15p.

Reporting by Josh White for Sharecast.com.