Management Consulting Share Price (MMC)

These shares are taking a helluva long time to reach their target but at least they are trying.

These brokers do not seem to have a very good crystal ball by the state of these shares.

THE BROKERS SAY "BUY" MANAGEMENT CONSULTING GROUP 02 August 2012 Oriel Securities reiterates it BUY recommendation for Management Consulting Group. Canaccord Genuity reiterates its BUY rating for Management Consulting Group with a target price of 32p. 14 August 2012 Finncap upgrades Management Consulting Group from HOLD to BUY, setting a target price of 40p. P.S. Here's some links about SCLP, one of the hottest stocks at the moment: http://www.euroinvestor.com/community/discussionthread.aspx?iid=2467508&threadid=256596&mode=2 http://www.euroinvestor.com/community/discussionthread.aspx?iid=2467508&threadid=255276&mode=2 http://www.euroinvestor.com/community/discussionthread.aspx?iid=2467508&threadid=257550&mode=2

Full order books look like they have saved this from dropping too far today

Summary and outlook Trading in the first six months of 2012 has been affected by difficult market conditions. Alexander Proudfoot has continued to perform well overall, but Kurt Salmon's progress in North America has been overshadowed by a weaker performance in Europe. Our business continues to prosper in emerging markets and 15% of first half revenues came from work delivered outside North America and Western Europe. We are taking action to underpin the performance of the Kurt Salmon business in light of current market conditions which we expect to continue during the second half of the year. This will include restructuring certain practices and making adjustments to headcount, resulting in further non-recurring restructuring costs in the second half of 2012. Although clients remain cautious, and downside risks to the global economy remain, the Group has a well balanced and diverse business which is performing well in most of its markets. We will continue to focus on growth opportunities where they arise, including smaller bolt-on acquisitions where appropriate. The Group's net debt remains well below historic levels at £35.7m at 30 June 2012. The normal phasing of cash flows means that historically the second half of the year tends to see stronger cash generation and the Board continues to expect this to be the case in 2012. MCG enters the second half of 2012 with a healthy order book and project pipeline, a strong financial position and long term client relationships which have delivered revenues over many years. MCG has established a stable platform which will enable the Group's businesses to benefit in due course as economic conditions improve.

Nick Stagg, Chief Executive commented: "MCG has made progress in parts of the business in the first half of 2012 against a backdrop of challenging trading conditions and market uncertainty, and enters the second half of 2012 with a healthy order book and project pipeline. We have seen a good performance overall in North America, and in emerging markets, with work delivered outside North America and Western Europe representing 15% of first half revenues. This has been offset by the negative impact of Eurozone weakness which has affected overall activity levels and margins. "Economic uncertainty looks set to continue in the second half of 2012, but MCG is a global business with a balanced geographic and sector focus. We remain committed to improving operational efficiency and profitability, whilst investing for growth, and we are well placed to take advantage of opportunities in markets and sectors which continue to grow."