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3 Nov 2017 07:00
3 November 2017
Management Consulting Group PLC
Trading statement
Management Consulting Group PLC (the "Group") gives the following update on trading for the year ending 31 December 2017.
As announced with our interim statement on 18 August 2017, changes were made to improve our operations in North America given that revenues were not at levels to restore profitability. This change process has continued; however, it is taking more time than originally anticipated for revenues to reach required levels, in particular some large potential engagements failed to materialise in North America including the second phase of an existing project not moving forward. This has impacted the second half trading and as a result Group revenues for 2017 will now be below our previous expectations. We have made significant progress on reducing costs but this will only partially offset these lower revenues.
The level of proposals in the US has now started to improve and the Global Natural Resources practice continues to show positive progress through new client acquisition.
For further information please contact:
Management Consulting Group PLC | Tel: +44 20 7710 5000 |
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Nick Stagg, Chairman and Chief Executive |
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Market Abuse Regulation
The information contained within this announcement is deemed by the Group to constitute inside information as stipulated under the Market Abuse Regulation. Upon the publication of this announcement via a regulatory information service, this inside information is now considered to be in the public domain.
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