Share Name Share Symbol Market Type Share ISIN Share Description
Management Consulting Group Plc LSE:MMC London Ordinary Share GB0001979029 ORD 1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.0% 0.23 0.16 0.30 - 0.00 01:00:00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Support Services 28.3 6.9 -1.4 - 3

Management Consulting Share Discussion Threads

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Management.Cons.Grp Completion of Acquistion RNS Number:6876F Management Consulting Group PLC 15 October 2007 Management Consulting Group PLC 15 October 2007 Not for release, publication or distribution in or into the United States of America, Australia, Canada or Japan. FOR IMMEDIATE RELEASE Management Consulting Group PLC Completion of acquisition Management Consulting Group PLC (the ''Company'') is pleased to announce the successful completion of the acquisition of Kurt Salmon Associates, Inc (the ''Acquisition''). Following the receipt of shareholder approval of a number of matters, including the Acquisition itself, at an Extraordinary General Meeting of the Company held on 11 October 2007 and satisfaction of all other outstanding conditions, the Acquisition has been completed. Application has been made for 53,643,103 Ordinary Shares of 25 pence each, issued as part consideration for the Acquisition, to be admitted to the Official List of the UKLA and the London Stock Exchange's market for listed securities. It is expected that admission will become effective and that dealing will commence at 8.00 a.m. today. Kevin Parry, Chief Executive of the Company, said "The acquisition of Kurt Salmon significantly enhances the Group. We are confident that we will succeed in integrating and building its business in the same way we have done with Ineum."
Definitely seller now out by the looks of things and hopefully this can return to a normal/decent rating which IMO will see it at 55p+....lets hope continues next week.
Starting to recover now as I expected... Cheap as chips imo! dyor!
This TT bloke has got everywhere....what a waste of time. ANYHOW....MMC nice rise Friday, hopefully the constant seller is now or near to being out of the way, and the share price can get to at least a modest rating. 50p would be my immediate TP and would still mean a p/e
The director share buying is attractive however KSA didn't come cheap. $125 million plus assumed debt of at least another $10M for £12.794M EBIT (after add backs of 'exceptional' restructuring costs and bad debts) is about 16-18 x profits. That's much higher than MMC' own rating.
scotswhaehae -- Looks like you may get a short boost. My problem is that this share has gone from a sort of unknown that looked cheap to a company that thinks little of existing shareholders (15% dilution!) and would move into dangerous debt territory with one acquisition. With that change, most of what's left is luck -- not really my style. I'm looking for a way out with tolerable loss, but won't hang about much longer than the EGM. Best of luck, Richard
RNS Number:0429F Management Consulting Group PLC 03 October 2007 Management Consulting Group PLC ("the Company") Notification of Transactions of Directors/Persons Discharging Managerial Responsibility and Connected Persons In accordance with DTR 3.1.4 R, the Company announces that it was informed on 2 October 2007 that the total beneficial interest of Alan Barber, a non-executive director of the Company, in the ordinary share capital of the Company had increased by 150,000 ordinary shares of 25 pence each ("Ordinary Shares") so that Mr Barber was now beneficially interested in a total of 358,000 Ordinary Shares representing 0.13 per cent. of the issued share capital of the Company. Mr Barber's interests increased pursuant to the following transactions: (i) an acquisition on 1 October 2007 of 70,000 Ordinary Shares at a price of 41 pence per share; (ii) an acquisition on 2 October 2007 of 88,000 Ordinary Shares at a price of 40 pence per share; and (iii) a disposal on 2 October 2007 of 8,000 Ordinary Shares at a price of 39 pence per share. Charles Ansley, Company Secretary 3 October 2007
Management.Cons.Grp Director's Shareholding RNS Number:2250F Management Consulting Group PLC 05 October 2007 Management Consulting Group PLC ("the Company") Director's Shareholding The Company today announces that Mr Kevin Parry, the Chief Executive of the Company, on 4 October 2007 acquired 35,000 ordinary shares of 25 pence each ("Ordinary Shares") at a price of 37.75 pence per Ordinary Share and on 5 October 2007 acquired 15,000 Ordinary Shares at a price of 37.98 pence per Ordinary Share. Following the acquisition of these ordinary shares, Mr Parry will be beneficially interested in 1,247,042 Ordinary Shares representing 0.45 percent of the issued share capital of the Company.
Bought a few this morning... Ludicrously cheap and the 'boys' want these better ahead of the EGM I reckon... Good luck all!
16:16 me innocent but isn't it better for MMC to buy USA assets when the dollar is weak and USA retail is dull...surely thats the best time? Also, paying cash and raising gearing helps enhance EPS if the integration goes well... I agree that this looks a biggish and somewhat surprising step but this looks fully factored into the share price...indeed over factored imo... I no longer hold having tactically exited well before this deal but its looking very interesting again imo... Good luck all!
Vote NO on the EGM resolutions on Kurt Salmon acquisition. (I also posted this on Motley Fool's MMC board) Not sure how many are still holding, but the size of the Kurt Salmon acquisition has required an EGM to vote on it. Here are good reasons to defeat it, not that I believe we small-fry can defeat it, but anyway... - Gearing will nearly double to something around 50%. You can argue that shareholder funds are being acquired, but that won't be calculated until March, and given the economic climate in US retail, the market in which Kurt Salmon operates, and likely integration costs, the extent to which this offsets the debt is questionable. I like to think of gearing as the degree to which some bank has a claim on my shares, and to which the board respects the bank rather than shareholders. - MMC have announced that they intend to issue 48 million shares. That's a dilution that reduces the value of pre-announcement holdings by 15%, and the market has responded accordingly. The best way to get this value back is to vote down the share issue (see Ordinary Resolution 2 below). Also, in my not-so-humble opinion, the board is of a mind to buy up the competition until we shareholders are broke. I've seen it happen. If this acquisition passes and they survive through finals, they'll push the gearing up and dilute us again next year. This gang clearly holds shareholders in contempt. Even if your shares are in a nominee account, many brokers will vote your shares according to your wishes. Contact them asap so they can get the notice to you and you can respond with your votes. My broker, Fastrade, did this by email. The EGM is on 11 October. For your convenience, here are the EGM resolutions reported to me by Fastrade: 1. Ordinary Resolution 1 - to approve the acquisition of Kurt Salmon Associates 2. Ordinary Resolution 2 - to increase the authorised share capital of the company 3. Ordinary Resolution 3 - to authorise the Directors of the company to exercise all the powers of the company to allot relevant securities My proxy is voting my shares NO on all three resolutions. Incidentally, I consider my decision to hold through the EGM to be a big risk anyway. I don't recommend this share to anyone, whatever analysts say. Richard
RNS Number:3397E Management Consulting Group PLC 24 September 2007 Management Consulting Group PLC ("the Company") Director's Shareholding The Company today announces that on 21 September 2007 Mr Craig Smith, the Finance Director of the Company, acquired 50,000 ordinary shares of 25 pence each ("Ordinary Shares") at a price of 43.25 pence per Ordinary Share. Following the acquisition of these ordinary shares, Mr Smith will be beneficially interested in 50,000 Ordinary Shares representing 0.02 per cent. of the issued share capital of the Company.
I'm sure we will all know in due course!!!!
don't understand.
Someone doesn't seem to like that deal!
Management.Cons.Grp Acquisition RNS Number:0858E Management Consulting Group PLC 19 September 2007 Management Consulting Group PLC 19 September 2007 Not for release, publication, or distribution in or into the United States of America, Australia, Canada or Japan FOR IMMEDIATE RELEASE Management Consulting Group PLC Proposed acquisition of Kurt Salmon Associates, Inc. Summary Management Consulting Group PLC (''MCG'' or the ''Company'' and together with its subsidiaries, the ''Group''), the international management consultancy group, today announces that it has entered into a conditional agreement whereby it will acquire, by way of merger, the entire issued share capital of Kurt Salmon Associates, Inc. (''KSA''), a leading international management consulting firm specialising in services to consumer product suppliers, retailers and health care providers. The total consideration agreed for the Acquisition is US$125.0 million (#62.7 million), which will be satisfied by the payment of US$75.0 million (#37.6 million) in cash, the issue of 48,278,793 New Ordinary Shares (the number of which may be adjusted to up to a maximum of 53,643,103 New Ordinary Shares or down to a minimum of 43,889,812 New Ordinary Shares pursuant to the Share Consideration Adjustment) and the grant of options over 6,293,124 Ordinary Shares in exchange for KSA Options (the number of Ordinary Shares the subject of options may be adjusted to up to a maximum of 7,471,466 Ordinary Shares or down to a minimum of 5,525,105 Ordinary Shares). The cash element of the consideration will be funded from a new Euro81,450,000 and US$111,325,000 multicurrency debt facility which will also be used to refinance the Group's existing borrowings and to provide further working capital and acquisition capital. The Acquisition is in line with the Group's strategy of delivering profitable and sustainable revenue growth by broadening and deepening its consulting offerings. Excluding one-off integration costs and the amortisation of intangibles, the Board believes that the Acquisition will enhance earnings per share in the year to 31 December 2008.(1) The KSA Vendors will, immediately following Completion and assuming there is no Share Consideration Adjustment, together hold 48,278,793 Ordinary Shares representing 14.9 per cent. of the Enlarged Share Capital (or 16.3 per cent. if the Share Consideration Adjustment results in the maximum upwards adjustment in the number of New Ordinary Shares). Commenting on today's announcement, Rolf Stomberg, Chairman of MCG, said: ''This acquisition is a key development in the execution of the Group's strategy. KSA is a well managed and profitable business with growing revenues. It has a strong foothold in the US, the world's largest consulting market, and a high quality client base. The combination of this business with our existing portfolio will benefit all stakeholders.'' Kevin Parry, Chief Executive of MCG, said: ''I am delighted that the KSA management team and staff are joining MCG. The deal provides a strong platform for further growth. It expands our consulting offering and geographic reach, deepens our talent pool and creates opportunities to cross sell our service offerings to the enlarged client base.'' Mark Wietecha, Chairman of KSA, said: ''Our ability to advance the success of clients and drive superior results stands at an all time high, and becoming part of MCG's worldwide portfolio of brands strengthens and expands our capabilities. MCG provides KSA access to a larger base of resources to further advance our vision and strategy as a premier management consulting firm in an increasingly dynamic global market. We look forward to working with MCG's management team to further grow and develop KSA's business for the continued benefit of our clients and employees. '' Overview of KSA KSA is headquartered in Atlanta and has a network of offices throughout North America. It has operations in Europe and Asia and partnership relationships in India and Spain. The Group employs approximately 550 people and was ranked as one of the ''Ten Best Consulting Firms to Work For'' by Consulting Magazine in each of the six years from 2002-2007. KSA operates through two divisions: the Consumer Products and Retail Division and the Health Care Division. The Consumer Products and Retail Division operates internationally, principally in North America, Europe and the Asia Pacific region. The Health Care Division operates primarily in the United States. The Consumer Products and Retail Division consults on business growth, inventory efficiency, margin management, productivity improvement, technology effectiveness programmes and supply chain management. Its services address strategy, processes, organisation and technology support in the core areas of merchandising, inventory and supply management. Clients include AEON, Carrefour, The Home Depot, J Sainsbury, Macy's, Proctor & Gamble, Sara Lee and Wal-Mart. The revenues of the Consumer Products and Retail Division in the year ended 31 December 2006 were approximately US$125 million, approximately 66 per cent. of which related to the United States, approximately 25 per cent. to Europe and approximately 9 per cent. to the Asia Pacific region. The Board believes that the size of the global markets for consulting services to the consumer products and retail industry sectors is approximately US$12 billion and US$13 billion respectively and that the growth in those markets will be between six and ten per cent. per annum over the next three years. The Health Care Division consults on strategy, facility planning and IT to hospitals, medical centres and physician group practices. Its services address strategic planning, clinical programme planning, organisation and governance, facility and operational planning and consulting services related to IT strategy, system selection, negotiation and project management. Clients are typically major private sector hospital providers in the United States and include John Hopkins Hospital, The Mayo Clinic, Cleveland Clinic and the UCLA Medical Center. The Health Care Division has also provided consulting services to health care providers in the Middle East including Saudi Arabia, Qatar and the United Arab Emirates. The revenues of the Health Care Division in the year ended 31 December 2006 were approximately US$28 million. The Board believes that the size of the global market for consulting services to the health care sector is approximately US$25 billion, and that the growth will be approximately six per cent. per annum over the next three years. Benefits of the Acquisition The Board believes that the Acquisition is an important step in the execution of the Group's strategic goals. In particular, the Board believes the Acquisition will have the following key benefits: Operational * Secures an international market leader in consulting to the consumer products and retail sectors and a strong health care practice in the United States * Broadens the Group's range of industry-led consulting offerings in sectors where it is not currently strong * Strong KSA brand raises the Group's profile in the United States, Europe and Asia * Deepens the Group's talent pool with internationally experienced principals * Increases the Group's client base and enables it to cross sell its services to that enlarged client base Geographic * Rebalances the Group's mix of revenues towards the world's largest consulting market, the United States, following the acquisition of Ineum with its substantially European business in 2006 * Provides complementary consulting offerings in geographies where the Group is already well established * Increases the Group's Asian presence * Provides a platform for further development in growing markets Financial * Adds a well-managed and profitable business with growing revenues * Expected to be earnings enhancing in 2008 before one-off integration costs and the amortisation of intangible assets(2) * Creates an opportunity to reduce unit infrastructure costs * Offers a more balanced revenue mix in terms of market and service offerings and so spreads the risks inherent in the Group over an enlarged portfolio of businesses Shareholder approvals The proposed Acquisition constitutes a Class 1 transaction under the Listing Rules. Accordingly, it is subject to the approval of Shareholders, which is to be sought at an Extraordinary General Meeting expected to be held on 11 October 2007. A circular (also comprising a prospectus for the purposes of Part VI of the FSMA) (the ''Circular'') containing full details of the proposed Acquisition is expected to be sent to Shareholders on or shortly after 21 September 2007. Current trading and prospects The Board gave an update on trading at the time of its interim results published on 13 August 2007 and reported that Ineum Consulting's inaugural contribution to the first half results showed significant like-for-like growth and Proudfoot Consulting performed slightly better than in the second half of last year. Parson Consulting's results were mixed. The outlook for the Group has not changed since that announcement and the Board remains confident that the Group will show good progress in 2007. Revenue of KSA for the period from 1 January to 11 August 2007 was approximately 18 per cent. ahead of the comparable period last year. The Board has a confident outlook for the Enlarged Group's performance for the remainder of 2007. The information in this summary should be read in conjunction with the main body of this announcement. There will be an analysts' presentation at 9.30 a.m. today at the offices of MCG on the 6th Floor of Fleet Place House, 2 Fleet Place, Holborn Viaduct, London EC4M 7RF.
Looks like someone has had enough?
I found this, don't know if it is of any use:- Management Consulting downgraded to "hold" Date: 2007-09-06 7:56 AM Analyst: Panmure Gordon & Co Subject: Europe Rating: Hold LONDON, September 6 ( - Analysts at Panmure Gordon downgrade Management Consulting Group (ticker: MMC-GBX) from "buy" to "hold." The target price is set to 55p. In a research note published this morning, the analysts mention that the company has acquired US-based CBH for $10.6 million. The acquisition is expected to be neutral to Management Consulting's 2007 EPS and accretive to the company's 2008 EBIT by £0.5 million, the analysts say. The downgrade in rating follows the recent appreciation in the company's share price, Panmure Gordon adds.
Looks like another decent deal for MMC this morning and decent new business line...
At last some decent movement upwards....still cheap as chips IMO....if you pardon the expression.....brokers all still +ve, good newsflow, Welsheagle's post above provides some good value parameters and hopefully next set of newsflow will merely reinforce belief that this should be nearer 65p+ not single digit p./e DYOR etc
From August's 'Company Refs', when price was 48p:- a/ Prospective PE ratio of 7.70 (based on four broker forecasts, three recommending 'buy', and one recommending 'overweight'). b/ Forecast growth in eps of 13.2%. c/ Net asset value per share of 41.4p. d/ Dividend yield of 2.25%. e/ Turnover up from £107m to £147m in last five years. f/ Price to sales ratio of 0.69.
good results, good confidence, up nicely, still dirt cheap IMO. Nice to see an interim divi as well. Am contiuing to hold for the long-term.
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