- IT services provider FDM Group said Monday first-half profit rose 12%, driven by margin expansion.

For the six months to June 30, pre-tax profit rose to £23.0m, even as revenue inched up just 1% to £117.8m.

The somewhat stagnant revenue growth came as the company continued to prioritise increasing both Mountie numbers and revenues over contractor revenues.

Mounties are what the company calls the contractors and staff that provide its IT services.

Mountie revenue rose 14% to £114.6m, while contractor revenue fell 80% to £3.2m.

The company declared an interim dividend of 14.5p per share, up 21% on-year.

'The board anticipates that the group's results for the year will be in line with its expectations and that we will continue to deliver for all of our stakeholders' said Rod Flavell, Chief Executive Officer.

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