Strong trading for Management Consulting Group
Management Consulting Group has released a strong trading update ahead of its 2004 preliminary results in March.
The group, which is comprised of Proudfoot Consulting and Parson Consulting, has estimated a 34% growth in revenues to £118.8m.
Proudfoot has contributed £81m in revenues, a 19% growth on 2003, while Parson’s revenues have grown 85% to £37.8m.
MCG’s operating profit is expected to ‘moderately’ exceed market expectations.
‘I am very pleased with the revenue for 2004 particularly in the light of the weakness of the dollar,’ said MCG chief executive Kevin Parry. ‘In particular, the trading and momentum in Parson Consulting in the second half of the year have confirmed its turnaround.’
The group has also appointed KPMG partner Mark Currie as its finance director. Currie has spent the last five years at KPMG working in transaction support services for global clients.
Former MCG finance director Stephen Purse has taken up the same role at law firm Clifford Chance.