- FDM group reported adjusted pre-tax profits rose by 26% to £47.2m in the year to the end of December, amid ongoing Mountie revenue growth.

The group revenue of £233.6m for the period, up 23% from £189.4m the previous year but gross margin fell to 44.6% from 45.5%.

Mountie revenue increased by 24% to £207.3m from £167.3m, a 21% increase at constant currencies as Mounties assigned to client sites rose 17% to 3,170 from 2,705 the previous the year. Contractor revenue increased by 19% to £26.3m from £22.1m.

Cash flow from operations rose 23% to £48.3m as the firm continued despite cash coveration falling 3% to 102.2%.

The firm said its strategy would remain focussed on growing Mountie numbers and revenues while contractor revenues remain ancillary to the group and will continue, over the longer term, in managed decline.

The final dividend is 14.0p per share, taking the total dividend for the year to 26.0 pence, up 33% on 2016.

Chief executive Rod Flavell said: 'The Group returned a strong performance in 2017, generating growth in Mountie numbers, revenue and profit while continuing to invest, in each of its territories, in sustainable and long term growth.'

'During the early part of 2018 FDM has seen continued strong momentum across all of its markets and I am confident that FDM will deliver another year of good operational and financial performance in 2018.'

At 9:43am: [LON:FDM] FDM Group Holdings Plc share price was +71p at 959p

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