StockMarketWire.com - IT recruitment specialist FDM posted a 3% fall in first-half profit and cut its dividend as the pandemic weighed on sales.

Pre-tax profit for the six months through June decreased to £20.5 million, down from £21.2 million year-on-year.

Revenue slid 7% to £131.3 million, though adjusted operating profit climbed 9% to £22.3 million.

FDM declared an interim dividend of 15p per share, down 19% year-on-year.

Looking forward, the company said it was well placed to achieve its expectations for the full year.

'I am pleased to report that FDM made strong progress in the first half of the year and, while our markets remain impacted by the pandemic, we have seen operational performance return to levels that we experienced prior to the pandemic,' chief executive Rod Flavell said.

'The number of training completions in the first half of 2021 is double what we achieved in the second half of 2020 and current trainee numbers are at record levels.'


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