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Management Consulting says FY results set to be in line with market expectations
 
 Management Consulting
Group PLC estimates its
revenue for the year
ended 31 December 2006
to be in line with
market expectations and
to have grown by 13% to
£146.5m (2005: £129.6m).
The profit before tax is
estimated at £14m.
   The group released a
 
 trading update ahead of
its 2006 preliminary
results scheduled to be
announced on 12 March,
2007.
   The group said Parson
Consulting's revenues
outside the US grew,
but, as anticipated and
principally associated
with the run-off of
 
 Sarbanes-Oxley related
work, the weak US market
resulted in the full
year revenue of Parson
Consulting declining
significantly during
2006. The revenue of
Proudfoot Consulting for
the same period is
estimated to have grown
modestly.
 
    Ineum Consulting's
revenue is estimated to
be over 5% ahead of the
group’s expectations for
the fourth consecutive
month since its
acquisition. The
benefits of Ineum will
be fully visible in the
2007 numbers, the
company said.
 
    Proudfoot Consulting
has continued to develop
its business in China
and has also commenced
operations in Brazil
which is anticipated to
generate revenue in the
first half of 2007.
  
  
 
 
Ernst & Young names new managing partner for Scotland
 
 Hywel Ball is set to
take over the reins as
Ernst & Young’s managing
partner for Scotland, as
Douglas Nisbet begins
his new role as junior
vice-president of ICAS
(Institute of Chartered
Accountants of
Scotland).
   Ball has 20 years’
experience with Ernst &
Young – working in the
firm’s London, New York,
and Scottish offices –
and has spent the last
three years in London as
head of the firm’s
Energy, Chemicals and
Utilities practice for
the UK, Middle East,
India, and Africa. He
will take on the
 
 Scotland managing
partner role from Nisbet
in April. He will be
based in the firm’s
Edinburgh office, where
he will also take on the
additional role of
Edinburgh office
managing partner with
immediate effect.
   In addition to
dedicating time to his
new role with ICAS,
Nisbet, who has been
Ernst & Young’s managing
partner for Scotland
since 2002, will
continue to head the
Glasgow office and focus
on a number of the
firm’s key audit
clients, and on leading
initiatives such as
 
 Ernst & Young’s
Non-Executive Director
Programme set to launch
later this year.
   The latest
appointment will raise
Ernst & Young’s
challenge to its Big
Four rivals. Having led
the Energy, Chemicals
and Utilities team to a
market leading position
in the UK oil & gas
market, Ball now has his
eye firmly on doing the
same for Ernst & Young
in Scotland.
   Ernst & Young has
over 760 staff in
Scotland including 40
partners and directors.
The firm continues to
expand across all its
 
 service lines and
industries, particularly
Assurance & Advisory
Business Services,
Transaction Advisory
Services and tax. It
also boasts the biggest
Transaction Support,
Project Finance, and
Financial Services teams
in Scotland, with
numbers being bolstered
with numerous
appointments and senior
promotions last year.
   Two of the firm’s
leading faces in
transaction advisory
services and oil & gas,
Neil Patey and Alec
Carstairs, are also set
to take on new roles in
2007, with Carstairs
 
 being unveiled as the
new office managing
partner for the Aberdeen
office. Carstairs brings
extensive experience to
the Aberdeen client
portfolio from his
continuing UK-wide role
as head of mergers and
acquisitions in oil &
gas. Patey, an already
established figure in
the UK transactions
market, will head up the
firm’s Transaction
Support team in Scotland
from June of this year
following Richard
Sweetman’s retirement.
  
  
 
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