Management Consulting Group PLC Trading Statement (4585V)
03 November 2017 - 6:00PM
UK Regulatory
TIDMMMC
RNS Number : 4585V
Management Consulting Group PLC
03 November 2017
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 Tel: +44 20 7710 5000
PLC
Nick Stagg, Chairman and
Chief Executive
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.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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