26th Apr 2005 07:02
Management Consulting Group PLC26 April 2005 Management Consulting Group PLC Trading update Trading in the first three months of the year has progressed in line withexpectations. Parson Consulting continues to trade well ahead of the same period last year.First half revenue is expected to be in line with the revenue of the second halfof last year, when Sarbanes-Oxley compliance work in the US was at a peak. Wehave continued to see clients requesting help from Parson for services beyondSarbanes-Oxley compliance in both the US and Europe and a pick up inSarbanes-Oxley work in Europe. Proudfoot Consulting is trading in line with expectations. It had anexceptionally strong first half last year, particularly in the United States andconsequently is likely to have lower revenue than in the corresponding period oflast year. First half revenue is expected to be in line with the revenue of thesecond half of last year. We are working on a solid stream of prospectsincluding a number of larger than normal opportunities which have higher sellingcosts, but if won, a longer tail of revenue than is typical. As previously announced, we continue to invest in both businesses. Inparticular, we have opened Parson offices in Paris and Sydney and a Proudfootoffice in China. The costs of these investments fall primarily in the first halfof the year with the benefit of the investment becoming visible in the secondhalf of the year. We anticipate providing a further update after 30 June 2005. For further information please contact: Management Consulting Group PLCKevin Parry Chief Executive 020 7710 5000Mark Currie Finance Director 020 7710 5000 The Maitland ConsultancySuzanne Bartch 020 7379 5151 (mobile) 07769 710335Michelle Jeffery 020 7379 5151 (mobile) 07989 977837 Notes to Editors Management Consulting Group PLC comprises two consulting businesses: ProudfootConsulting and Parson Consulting. Proudfoot Consulting helps clients to achieve significantly increasedprofitability through the implementation of operational improvements leading toincreased sales, lower operating and overhead costs, greater output and lowercapital expenditure. Its clients include BP, National Australia Bank, NewmontMining, Nissan, PSA Peugeot-Citroen and Societe Generale. Parson Consulting specialises in financial management consultancy. It is free ofauditing conflicts and provides Sarbanes-Oxley compliant services. It has fourservice lines: governance and risk management, operational financial management,strategic financial management and transaction support. Its clients includeAvis, Citigroup, Ford, General Mills, Kingfisher, Shell and Warner Bros. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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