New York, NY (May 7, 2024) – The Fedcap Group announced its first half fiscal 2024 operational and financial results, ended March 31, 2024.
Commenting on the results, Christine McMahon, President and CEO of The Fedcap Group noted, “We are pleased with the resilience that Fedcap demonstrated during this period of difficult economic and business conditions, which included growing fixed costs coupled with reduced government funding for several of our programs. Despite these challenges, we were able to increase the number of individuals served and post stable financial results, reflecting the diversity of our programs and revenue sources. As we move ahead in the second half of fiscal 2024, we will continue to prioritize organic growth, acquisitions, and new program launches to deliver positive outcomes for clients and maintain consistent financial results for the organization.”
“In the past six months, we completed several key initiatives, culminating in the successful launch of our innovation incubator and digital skills center, Civic Hall, in New York. Additionally, we launched a new Apex Technical School solar training program in Brooklyn, New York—increasing the education portfolio to 18 programs in four states, and we strategically expanded our presence through key acquisitions, notably the Teaching the Autism Community Trades School in Denver, Colorado. Our ongoing success in securing new contracts has enabled us to extend our service reach, exemplified by our latest workforce contract in Tennessee. Due to our exceptional service delivery, we’ve earned an extension for our UK Restart workforce contract. These are emblematic of initiatives that have proven positive track records with respect to benefits to individuals and society, and they are scalable to other geographies in which we are providing services.”
