French acquisition boosts revenue at Management Consulting Group.
Investors Chronicle - magazine and web content, August, 2007
The purchase of Ineum Consulting last year has turned out better than expected, but earnings are now too Euro heavy. Stephen Gunnion
The resumption of an interim dividend - the first since 1998 - is a sign of the positive outlook at Management Consulting Group (MCG), as well as its considerably larger size following the acquisition of French group Ineum Consulting for GBP92m last year.
Ineum performed better than expected, contributing about 40 per cent of group revenue and has won some sizeable deals, including a contract to modernise accounting in the French public sector, says chief executive Kevin Parry. However, following the acquisition, Mr Parry says the business is too biased towards Euro earnings and he would like to see more of a balance...
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