The Management Consulting Group has achieved its best results in a decade, according to its chairman.
In announcing its financial results for the year ended 31 December 2004, Rolf Stomberg said that 2004 had delivered the ‘best results for our shareholders in a decade, and I am delighted that we are recommending a 34% increase in the dividend.’
The group saw a 35% increase in turnover to £119.2m from £88.6m in 2003. Its two consulting businesses, Proudfoot Consulting and Parson both performed well.
Proudfoot Consulting that specialises in ‘implementing operational improvements’ within businesses saw its turnover rise 19% to £81.4m from £68.2m in 2003. Parson Consulting that specialises in financial management consultancy, also showed significant growth, with turnover up 85% at £37.8m from £20.4m in 2003.
Kevin Parry, chief executive at MCG, said he expected the company to push further ahead in the future: ‘During 2004 our trading improved significantly, with Parson Consulting doubling in size and Proudfoot Consulting performing strongly. In 2005, our existing orders and prospects, together with the expanded service offering, will position us well to deliver further growth.’
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