MMC.L Regulatory News (MMC)

11 Jul 2005 07:00

Management Consulting Group PLC11 July 2005 Trading Statement for the Six Months Ended 30 June 2005 Management Consulting Group PLC, the international management consultancy group,issues the following trading update ahead of the announcement of its interimresults for the six months ended 30 June 2005. At the Annual General Meeting on 26 April 2005 it was indicated that therevenue for the first half of 2005 was expected to be in line with that of thesecond half of last year. This remains the case. Turnover for the first half of2005 is estimated to be £57 million compared with £56 million for the secondhalf of last year and £63 million for the corresponding period of 2004. Both Proudfoot Consulting and Parson Consulting have delivered revenue in line with the second half of last year. We have continued to see clients requesting help from Parson Consulting for services beyond Sarbanes-Oxley compliance in both the US and Europe and a pick up in Sarbanes-Oxley work in Europe. In Proudfoot Consulting, we have won some larger than normal opportunities which have incurred some higher than normal selling costs. These opportunities areexpected to have a longer tail of revenue than is typical. As previously announced, we have opened Parson Consulting offices in Paris andSydney, and a Proudfoot Consulting office in China. Both the Sydney and the China offices have won clients. The Paris office, which was the last of the three offices to be opened, is progressing on schedule. The first half profit is estimated to be in line with that of the second half oflast year, with the investment costs of opening offices being offset by a profitarising from a prior period divestment of a business. The order book at the half year has grown substantially since the beginning ofthe year as a result of significant successes in new work generation inProudfoot Consulting. The outlook for the full year remains in line with current market expectations. The interim results for the six months ended 30 June 2005 will be announced on 8August 2005. For further information please contact: Management Consulting Group PLCKevin Parry, Chief Executive 020 7710 5000Mark Currie, Finance Director The Maitland ConsultancySuzanne Bartch 020 7379 5151Peter Ogden Notes To EditorsManagement Consulting Group PLC comprises two consulting businesses: ProudfootConsulting and Parson Consulting. Proudfoot Consulting is a specialist management consultancy which implementssustainable operational improvements in sales, costs, overheads, major capitalexpenditure projects and production output, typically at no net annualised costto its clients. Its clients include BP, National Australia Bank, Newmont Mining,Nissan, PSA Peugeot-Citroen and Societe Generale. Parson Consulting is a financial management consultancy that improves theaccuracy, speed and efficiency of finance and support functions free of auditingconflicts of interest. Its clients include Avis, Citigroup, Ford, General Mills,Kingfisher, Shell and Warner Bros. This information is provided by RNS The company news service from the London Stock Exchange