FDM Group (FDM:LSE), an IT staffing provider operating with the recruit-train-deploy model, reported Tuesday the number of consultants assigned to clients was up 18.2% year over year in April to 4,429. The London-based company, which also has US operations, added that recruitment continues to be strong and in-training numbers are at an all-time high.

“I am pleased to report that the group has enjoyed strong trading across all our regions during the early months of 2022, with high levels of demand resulting in record levels of activity,” said David Lister, FDM Group’s board chair.

The update was planned for its annual general meeting scheduled for Tuesday.

Lister noted that given levels of demand, FDM Group is further accelerating and enhancing its investment in recruitment of both consultants and internal staff as well as developing other programs to support future growth.

The group’s balance sheet had £55 million (US$69 million) of cash and no debt as of April 30, he said.

“While conscious of the wider geopolitical issues in the world, the board is confident that the group is well placed to achieve its expectations for the current year and to deliver long-term, sustainable growth,” Lister said.

Share price and market cap

Shares in FDM Group closed down 1.23% to £960.00 today in London; they were 20.00% above the 52-week low, according to FT.com. The company had a market cap of £1.06 billion, according to FT.com.