Interim Management Statement (6909B)
April 19 2012 - 8:30AM
UK Regulatory
TIDMMMC
RNS Number : 6909B
Management Consulting Group PLC
19 April 2012
19 April 2012
Management Consulting Group PLC ("MCG")
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 2012 to
19 April 2012.
As reported in our Preliminary Results Statement on 7 March
2012, the Group entered the year in a strong position. We believe
that demand for our services is stable or improving in all parts of
our businesses, although macroeconomic conditions in some markets
remain uncertain. MCG remains well positioned to benefit from its
global coverage and sector focus.
Alexander Proudfoot is performing well, with continuing strong
levels of activity in the natural resources sector and in emerging
markets, and Latin America in particular. Whilst Kurt Salmon's
European operations had a slow start to the year, recent levels of
input point to improvement in key areas during the course of the
year. Kurt Salmon's operations in North America and the new
operation in China are making good progress.
As previously reported, the first half of the year is not cash
generative as a result of the timing of the payment of the Group's
annual bonuses from the previous financial year. The Group
continues to focus on cash generation to further reduce net
indebtedness over the course of the financial year.
Subject to shareholder approval at today's Annual General
Meeting, the final dividend of 0.55 pence per share will be paid on
2 July 2012 to shareholders on the register on 18 May.
Nick Stagg, Chief Executive, commented:
"Alexander Proudfoot continues to benefit from demand from
natural resources clients and in emerging markets. Recent input of
new projects in Kurt Salmon is encouraging and there are positive
signs for the remainder of the year. I am confident that we will
continue to make progress over the course of 2012 in realising our
objectives."
For further information please contact:
Management Consulting Group PLC Tel: +44 20 7710 5000
Nick Stagg, Chief Executive
Chris Povey, Group Finance Director
FTI Consulting (formerly Financial
Dynamics) Tel: +44 20 7831 3113
Ben Atwell, Susan Quigley
Notes to editors:
Management Consulting Group PLC (MMC.L) provides professional
services across a wide range of industries and sectors.
It comprises two independently managed practices: Alexander
Proudfoot and Kurt Salmon. Alexander Proudfoot develops and
implements operational improvements for its clients to increase
productivity and reduce costs. Kurt Salmon provides consultancy
services to a wide range of industries in both the private and
public sectors. 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
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