CMG reports UK profits rise
CMG has reported pre-tax profits up 31 per cent to #11.3m, in its interim results ending 30 June 1996. Turnover increased by 23 per cent to #116.6m with systems development and consultancy up by 17 per cent.
Profits in the UK improved 78 per cent to #1.7m, but in Germany, although revenue and profits in the finance sector improved, overall profitability was affected by poor results from the industrial market sector. The firm aims to focus more strongly on consultancy and project management services in this market.
“We need to improve in the industrial sector in Germany – we did not do very well there,” Stutterheim said. “In fact, we have decided to concentrate on people-related services.”