15th Jan 2014 11:00
LONDON (Alliance News) - Management Consulting Group PLC said Wednesday that it expects full year revenue and underlying operating profit to be slightly below expectations, as its Kurt Salmon business saw weak demand in its biggest market and its Alexander Proudfoot business failed to offset a weak first half performance.
The professional services provider said its Kurt Salmon unit experienced weak demand in France, although in recent months market conditions in the country had shown evidence of stabilising. In North America and Asia, Kurt Salmon performed well, and it expects to post increased revenues in those regions, it added.
Alexander Proudfoot, meanwhile, saw its second half performance improve after a weak first half, and it expects to post total revenues for the second half broadly in line with the previous year. Despite this improvement its year end order book position will be behind 2013. As a result, Management Consulting said it remains cautious on Alexander Proudfoot's outlook as it starts the new financial year.
Shares in Management Consulting were trading down 4.5% at 24.60 pence Wednesday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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