MMC.L Share News (MMC)

LONDON (Alliance News) - Management Consulting Group PLC said its outlook remains as reported in its preliminary results statement on March 6, when Chief Executive Nick Stagg said the firm expects underlying revenue growth and improved operating margins in 2014.

In a statement for the period between January 1 and April 23, the professional services company said Kurt Salmon, one of its two independently managed practices, has had a good start to 2014, with some signs of improving demand from clients, notwithstanding continuing weakness in the macroeconomic environment, in France. The current order book and pipeline are encouraging at this stage of the year, Management Consulting said.

As previously reported Alexander Proudfoot had a slow start to the year. Reported first half revenues in 2014 are expected to exceed those in the same period last year, but will not match those reported in the second-half of 2013. The order book is better than the same period last year and there is a promising pipeline of work, but Management Consulting said it retains a cautious view on the outlook for Alexander Proudfoot for this year as a whole.

Management Consulting said the first half of the year is typically not cash generative as a result of the timing of the payment of the group's annual bonuses from the previous financial year, meaning net indebtedness will increase at the 2014 half-year compared with the end of 2013 as in previous years.

Management Consulting said it doesn't expect to report a year on year increase in net debt at June 30.

Management Consulting shares were Wednesday quoted at 22.75 pence, up 1.1%.

By Samuel Agini; samagini@alliancenews.com; @samuelagini

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