Interim Management Statement
April 20 2010 - 9:00AM
UK Regulatory
TIDMMMC
RNS Number : 4793K
Management Consulting Group PLC
20 April 2010
20 April 2010
Management Consulting Group PLC
Interim Management Statement
To coincide with today's Annual General Meeting, Management Consulting Group PLC
('MCG' or 'the Group') today provides an Interim Management Statement for the
period from 1 January 2010 to 20 April 2010.
As reported in our Preliminary Results Statement on 8 March 2010, the economic
climate has eased from that experienced in the middle part of 2009 and the
Group's trading outlook for 2010 remains as indicated at the time of that
Statement. The Group will continue to manage its affairs to ensure that it
remains within its covenant limits.
New business input booked so far in 2010 is above that for the equivalent period
last year and the order book continues to trend upwards. Alexander Proudfoot has
significantly more leads for new business than at any stage last year. It has
booked and is currently working on some sizeable projects but is finding that
others in the pipeline are taking longer than expected to come to fruition. In
total, input at Ineum Consulting is good even if the current performance of the
French market is patchy, with some areas very strong and others weaker. Kurt
Salmon Associates continues to trade more profitably than in 2009, leveraging
its reduced cost base to good effect. The merger of Ineum Consulting and Kurt
Salmon Associates is proceeding well. The combined business will be known as
'Kurt Salmon' from the beginning of 2011.
It is also announced today that Nick Stagg, who joined the Board of Directors on
21 October 2009, is appointed Chief Executive of the Group with effect from 1
July 2010. Before joining MCG Nick was CEO of Teather & Greenwood Holdings PLC
and, prior to that, managing director of WS Atkins International PLC.
Executive Chairman Alan Barber said, "Although the Group's current trading
continues to feel the effects of the recent recession, encouraging signs in our
order book and pipeline are quite evident. I am delighted that Nick is becoming
Chief Executive at this time. His extensive background in managing and
developing businesses which rely heavily on the motivation and talent of their
employees will be extremely valuable at MCG as we move forward. As reported in
March I intend to continue as Executive Chairman until the end of 2010 and will
see through Nick's induction and the merger of Ineum Consulting and Kurt Salmon
Associates, before transitioning to the Non-executive Chairman role."
For further information please contact:
+-----------------------------------+-----------------------------------+
| Management Consulting Group PLC | Tel: +44 20 7710 5000 |
+-----------------------------------+-----------------------------------+
| Craig Smith, Finance Director | |
+-----------------------------------+-----------------------------------+
| | |
+-----------------------------------+-----------------------------------+
| Financial Dynamics | Tel: +44 20 7269 7242 |
+-----------------------------------+-----------------------------------+
| Ben Atwell | |
+-----------------------------------+-----------------------------------+
Notes to editors:
Management Consulting Group PLC (MMC.L) provides professional services across a
wide range of industries and sectors.
It comprises three independently managed practices: Alexander Proudfoot; Ineum
Consulting; and Kurt Salmon Associates. Alexander Proudfoot develops and
implements operational improvements to its clients to increase productivity and
reduce costs. Ineum Consulting provides consultancy services to a wide range of
industries in both the private and public sectors. Kurt Salmon Associates
provides consultancy services to the retail and consumer products sector and to
the health care provider sector. The Group operates worldwide. For further
information, visit www.mcgplc.com.
This information is provided by RNS
The company news service from the London Stock Exchange
END
IMSFMGZDZGDGGZM
Management Consulting (LSE:MMC)
Historical Stock Chart
From Jun 2024 to Jul 2024
Management Consulting (LSE:MMC)
Historical Stock Chart
From Jul 2023 to Jul 2024