UK consulting earnings up despite dot.com fears
Members of the Management Consultancies Association has unveiled strong revenue growth for the first quarter, despite fears that major firms are 'haemorrhaging staff' to .coms.
MCA, the UK consulting firm representative, reported revenues of £923m, compared to £827m at the same time last year.
Growth took place across the board including traditional consultancy areas such as Strategy and Human Resources, as well as IT.
Bruce Petter, MCA executive director said the growth was likely to continue for the foreseeable future.
‘The results show an impressive return to strong growth for our members following the uncertainties of last year.
‘As the industry reshapes itself and works with clients to respond to the challenges of the new economy, we can expect this growth to continue’, he added.
According to a recent MCA survey, members expect e-business related income to represent at least 25% of total industry revenues this year.
The survey also found an increase in the number of consultants employed, average fee rates and volume of new business, while order books were found to be above normal for the time of the year.
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