| MCG sees profits double in first half of 2006 |
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| | MCG, the London-based
holding company for
management
consultancies, which
plans to buy the former
consulting arm of
Deloitte in France, said
pre-tax profit for the
six months to June rose
54% at £7.3m compared
with £4.7m last year.
Group revenues rose
17.7% to £67.3m
year-on-year, with gross
margin up almost two
points at 51.4% and
operating margin up
slightly more at 10.3%.
Operating cash inflow
was healthy at 8.4% of
revenues, versus a 3.7% | |
| |
| | revenue for the period
is considerably ahead of
the same period last
year.
Proudfoot Consulting,
the sales and
operational consulting
division, posted strong
revenue growth of 44% to
£51.7m, with operating
margins (stripping out a
provision release) more
than doubling at 16.3%.
The consultancy made
good progress in all
geographic areas.
Parson posted revenue
down 26% at £15.7m, with
operating margin of
minus 11.8% (versus 4.9%
profit margin in H1 | |
|
| | 2005).
MCG said the weak
performance in Parson's
North American operation
is being addressed, with
the division's pipeline
in North America showing
“good improvements” and
progress should be
visible in the fourth
quarter. Chief executive
Kevin Parry said Parson
Consulting has shown
good revenue growth
outside of North
America.
Proudfoot Consulting
and Parson Consulting
businesses have
excellent medium term
prospects, the board | |
|
| | added.
MCG continues to
invest in its sales
front end, and has
opened an office in
Brazil specialising in
consulting for natural
resources producers.
The Group said it
continues to be
interested in making
acquisitions of
businesses that broaden
its consulting offerings
and in widening the
coverage of Parson
Consulting and Ineum in
geographies outside
their existing
operations.
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| | outflow in the first
half of 2005.
"Whilst it remains
too early to comment on
the outcome for the year
as a whole because work
to be won in the
remainder of the year is
a key determinant of the
result, we remain
confident that the
business overall will
continue to perform
well," said MCG.
The group said | |
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