MMC Management Consulting Group Plc

 

TIDMMMC 
 
RNS Number : 2268W 
Management Consulting Group PLC 
16 November 2010 
 

16 November 2010 
 
                        Management Consulting Group PLC 
                          Interim Management Statement 
 
Management Consulting Group PLC ("MCG" or "the Group"), the international 
professional services group, today announces an update on progress in its 
business since reporting its half-year results on 2nd August 2010. 
 
In the second half of 2010 the Group has continued to operate in a market which 
reflects uncertain prospects for sustained economic recovery and the pace of 
growth in demand for consulting services.  Despite this uncertainty, Alexander 
Proudfoot has shown a strong recovery in the second-half of the year and has 
reported improving levels of activity, ahead of the corresponding period in 
2009.  Kurt Salmon Associates has also benefitted from improving market 
conditions, although the US recovery is developing slowly.  In the first-half 
Ineum Consulting reported that its performance in the French market was patchy, 
with some sectors stronger than others.  Ineum has continued to face challenging 
conditions in parts of the French market and elsewhere which have affected its 
performance in the second half, although recent indicators of activity have been 
encouraging. 
 
The Group's net indebtedness was reduced significantly as a result of the 
Capital Raising completed in the first half.  Cash management continues to be a 
key focus for the Group and net indebtedness is decreasing as expected. 
 
The merger of Ineum Consulting and Kurt Salmon Associates is well advanced and 
will formally take effect from 1st January 2011.   The merged business will 
trade as Kurt Salmon. 
 
As previously reported, on 31 October 2010 Craig Smith left the board and the 
Group and was succeeded as Group Finance Director by Chris Povey, who was 
appointed to the board on that date. Chris joined MCG in 2005 and has extensive 
operational and financial knowledge of the business. 
 
Nick Stagg, Chief Executive commented: 
 
"Whilst Alexander Proudfoot has shown a strong recovery in the second half of 
the year, Ineum has continued to experience a challenging market in some 
sectors. Overall the Board believes that the outlook is improving, albeit at a 
slightly slower pace than desired.  MCG continues to believe that the business 
is well positioned to benefit from the recovery as it materialises." 
 
For further information please contact: 
 
+-----------------------------------+-----------------------------------+ 
| Management Consulting Group PLC   | Tel: +44 20 7710 5000             | 
+-----------------------------------+-----------------------------------+ 
| Chris Povey, Group 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 
 
 IMSFMMMMRKMGGZM 
 

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