StockMarketWire.com - IT group FDM said trading in the first quarter was in line with its expectations but flagged a slowdown in business wins amid disruptions to onboarding new clients owing to the Covid-19 crisis.

Revenues for the quarter rose to £71.0m from £67.2m, and the number of mounties, deployed entry-level IT staff, placed with clients currently stood at 3,802, down 3,848 reported on 25 April.

During the post-lockdown a number of mounties had had their placements terminated early by clients operating in some of the sectors most badly affected by Covid-19, the company said.

'We have also been experiencing a reduction in the weekly number of new deals, and some of our clients have needed additional time for the remote on-boarding of mounties to new placements,' it added.

'While uncertainty over the duration and impact of the Coronavirus pandemic makes accurate short-term forecasts difficult, our agile and resilient business model, supported by a robust balance sheet, positions us well to face current conditions and the Group's long-term prospects remain strong.'

At 9:47am: [LON:FDM] Fdm Group Holdings PLC share price was +2.5p at 776.5p



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