Brighton-based IT services provider FDM Group said its first year as a listed company had been a success, despite a slight dip in profits.

Pre-tax profit came in at £1.5 million for the year to December, 2005, slightly down on the £1.8 million a year earlier.

Sales were up 6.4 per cent to £35 million from £32.3 million last time.

During the year FDM Group floated on London's Alternative Investment Market which raised £3.5 million for the company.

Chief executive Rod Flavell said: "We have delivered a solid performance in 2005 during which we have developed the business, invested in the future and built a platform for future growth that will take advantage of an expanding market.

"We have seen our contractor numbers increase from 465 at the year end to a current total of 553 and have won new clients such as M&G Investment Management, BNP Paribas and British Airways.

"Based on current trading levels, the continued execution of our business strategy and the strength of the market, we view the future with confidence and anticipate a successful outcome for the current financial year."

Tuesday, April 11, 2006