Management Consulting Share Discussion Threads

[patricjohnson] 03/1/2003 10:23

Management Consulting - Moves higher on rumours of Proub division trading well ahead of expectaion. Results expected soon.

[transittrader] 21/11/2002 13:23

These are moving 0.25/0.5 pence daily. Today up 1.25p. Im in.

[gokelstone] 17/10/2002 17:32

gascon, thats true. but in % terms thats not too bad in comparison to the big 5, etc. moreso, in light of the imr, chippin, etc t/o's

[gascon] 17/10/2002 17:20

Proudfoot made 6 redundant this week in the UK. That comes to 21 in Europe and 37 in the USA. Tough times in the industry?

[birdog1] 17/9/2002 10:20

Just bought in. tipped in psg.
Birdog

[pauljc] 12/8/2002 14:56

Keep any eye on this - still very lowly rated at this time but with fantatstic 6 months report and promises of continued delivery - check it out.

[goodfella] 22/7/2002 10:14

I see SGC whicH i highlighted a few weeks ago crashed this morning.

But more interesting is MMC the management consultancy group which still trades with a market cap of over 125 million despite continuing to be loss making.

With nett tangible assets of MINUS £15 million, there are other concerns with the balance sheet.

Not least of which is a big hole in the pension scheme of over £12 million pounds which can only worsen as markets decline.

As this is not a company which generates a large operating cash flow this deficit is a significant liability.

Further concerns are raised as although the European operations were loss making the only small profits were generated from the US operations which account for 60% of turnover.

Of course with the declining dollar this could have serious ramifications on the bottom line.

The risks have been exasperated by a recent acquisition which did not make financial sense.

Although the company stated that the acquisition was expected to be earnings enhancing next year this was before the collapse of the dollar and they have paid almost 38 million being over 40 times earnings for a little over 3 million in assets, thereby increasing their exposure to the USA and declining dollar without adding any real value.


Financial effects of the Acquisition The total revenues of Parson for the year ended 31 December 2001 amounted to approximately US$65.9 million (approximately £45.1 million). The operating profit of Parson in that year amounted to approximately US$0.8 million(approximately £0.5 million). The Acquisition is expected to be earnings enhancing before goodwill amortisation in the first full year followingcompletion.The net assets of the group as reported in the financial statements for the yearended 31 December 2001 were £20.1 million. The illustrative pro forma net assetsof the enlarged group, after taking account of the acquisition, the Firm Placing and the Placing and Open Offer, are £59.6 million.Goodwill representing the difference between the fair value of the considerationgiven and the fair value of the net assets acquired, of approximately £33.6million, will arise as a result of the Acquisition. This will be amortised over20 years.


Prudential and Legal and General who have their own free asset problems own substantial stakes and this stock could get hammered by any forced selling

[farnesbarnes] 11/7/2002 10:59

Nice 7% drop yesterday.

Still short.

$40 the next support.

[sue42] 31/5/2002 00:23

There is a 1 for 8 offer which expires I think on 8th June - I have some I bouht ages ago at 71p

[mancunium] 31/5/2002 00:04

Tipped by David Panell of Nothing Ventured today.Price target 100P late summer.
I ignored the tip last time a few months ago and sat and watched it rise over 10% in a few days,

[sardine] 13/5/2002 12:41

LONDON (AFX) - Management Consulting Group PLC said it proposed to buy
Parson Group LLC for 37.7 mln stg and to fund the deal, the group plans to raise
40.2 mln before expenses through placing and open offer.
Management Consulting said current trading remained in line with its
expectations, and that it is optimistic the enlarged group will show significant
revenue growth in the current year.
The deal will be earnings enhancing before goodwill amortisation in the
first full year following completion, it said.
Around 36.3 mln stg of the acquisition will be paid in cash, with the
balance of 2 mln usd being financed by the issue of new ordinary shares.
Some 30 mln stg will be raised from the firm placing of 44.78 mln shares and
10.2 mln from placing and open offer of 15.25 mln shares at 67 pence each.
Shareholders will be able to apply for 1 open offer share for every 8 ordinary
shares.
Management Consulting chief executive Kevin Parry said: "We consider that
demand for the financial management consulting services provided by Parson will
grow as the 'big 4' accounting firms are increasingly restricted from providing
such services to their current and prospective audit clients.
"The acquisition of Parson provides a very attractive means of expanding our
presence in the US at a time when market opportunities are opening up."
shw
NNN

For more information and to contact AFX: www.afxnews.com and www.afxpress.com

[sardine] 13/5/2002 01:05

Sardine - 11 Aug'00 - 17:02 - 43 of 62 edit


spooky,

You seem to be very near to this company. I take it that you are in the UK? I suggest that you have a look at today's intraday chart. It all seems to happen late each day and 3:00pm seems a good time for the action to take place!

Sardine - 15 Aug'00 - 02:01 - 44 of 62 edit


Results due today! I think that they will point to positive direction and a few new inroads. Let's see!

Sardine - 15 Aug'00 - 12:24 - 45 of 62 edit


RNS Number:4548P
Proudfoot Consulting PLC
15 August 2000

PART ONE


Proudfoot Consulting plc
Interim results for the six months ended 30 June 2000

Proudfoot Consulting Plc, the international management
consultancy group, announces interim results for the six months
ended 30 June 2000.

Key points
- Implementation of strategy on course;
- Turnover on continuing operationsincreased 12% to #14.3
million (1999: #12.7 million);
- Japanese disposal profits of #26.0 million before tax and
#24.7 million after tax;
- Operating profit of #1.9 million (1999: #0.7 million)
before investment spend of #2.9 million;
- Losses in ongoing operations, before investment spend,
eliminated;
- Profit before tax of #25.1 million including the
exceptional profit on the sale ofJapan (1999: #0.9 million);
- Balance sheet fully repaired;
- Cash balance of #38.9 million;
- Name change to Management Consulting Group PLC announced;
- Trading statement demonstrates a strong degree of
confidence in the future.

Rolf Stomberg, Non-Executive Chairman, said:
'In the first half the management team has delivered everything
that was planned to happen. On the basis of the known order
book, current prospects and underlying actions taken, the Board
views the outlook with a strong degree of confidence.'

Kevin Parry, Chief Executive, said:
'I am delighted that, through the hard work of many people, we
have grown the core business whilst also successfully raising
funds from the sale of our Japanese operations and the Placing
and Open Offer. We will continue to ensure that wedevelop the
core business whilst commencing further development by
acquisition.'

Bob Cara, Finance Director, said:
'The sale of Japan has allowed us to transform our balance
sheet. We now have a platform from which to further grow the
business.'

For further information:
Kevin Parry, Chief Executive,
Proudfoot Consulting Plc 020 7466 5000*

Bob Cara, Finance Director,
Proudfoot Consulting Plc 020 7466 5000*

Richard Oldworth or Bobbie Swanson,
Buchanan Communications 020 7466 5000
* on 15 August only; subsequently as per letterhead


Chairman's statement

I am delighted, in my first period as Chairman, to report that
the Group has made excellent progress in implementing its
corporate strategy.

Following the successful installation of a new management team,
together with a Placing and Open Offer raising #6.8 million for
investment in the core Proudfoot Consulting business and the
sale of the Japanese operations ahead of our planned timetable,
the Group is now focussed on its core operations and on
developing its offerings via acquisitions.

Financial results

The Group started the year with an order book that was at its
lowest for a number of years. We set ourselves a target of at
least matching the level of turnover for the comparable period
last year and so reversing the decline in Proudfoot's business.
This meant both winning and delivering business in the six
month period. Every month this year, trading has improved and
I can report that turnover for the six months ended 30 June
2000 was 13% up on 1999 at #20.5 million.

We have also made good progress at rebalancing our business
which was inadequately focused on the major consulting market
of North America. That market accounts for over 55% of
worldwide consulting spend. 43% (1999: 33%) of our turnover is
now attributable to North America and we anticipate making
further progress in increasing the importance of North America
to the Group results in the second half.

North American turnover increased by 49% to #8.8 million and
Japanese turnover increased by 16% to #6.2 million. We were
not able to commit any significant investment spend to the
other regions until late in the first half. Therefore, there is
little tangible progress in these businesses and turnover
inevitably declined in each region.

The margin before investment spend of #2.9 million (see below)
was 9.1% (1999: 3.8%). Good progress has also been made in
eliminating the operating loss in our ongoing business.
Excluding Japan, the margin before investment spend was 3.4%
(1999: negative 10.0%).

Fundraising and investment in the core business

In April, we successfully raised #6.8 million net of expenses
from a Placing and Open Offer at a price of 29 pence per share.
We welcome new institutional and other shareholders to our
register and appreciate the support given, without exception,
by our existing major institutional shareholders and by the
overwhelming majority of our other shareholders.

The fundraising was to enable us to invest some #10 million in
the core business over the 18 months to 30 June 2001. In the first six months
of this year, we invested #2.9 million, mainly in North America. In
the first four months of the half year we were cautious in our
expenditure pending the successful fundraising and did not
incur much investment spend in Europe, Africa and Asia Pacific.
We are on course to invest in excess of #8 million in the
current financial year, which will all be charged to the profit
and loss account.

The investment spend has, to date, been mainly directed at
marketing, selling and management reinforcement. Tangible
progress is already visible in North America. In the other
regions, underlying progress should be apparent by the fourth
quarter of2000 with turnover growth commencing in 2001. As
shareholders know, the tasks in Europe and Asia Pacific are the
most difficult as these two regions each relied on one large
client throughout 1999. Projects in those regions were
completed in the first quarter of 2000. Our aim is to build a
broad client base to provide a diversified platform for growth,
so as to avoid the large swings in revenue from period to
period experienced in the geographical regions in prior years.

Sale of Japan

As part of our strategic plan we determined that the Japanese
operations should not be part of our core operations and on 27
June 2000, shareholders overwhelmingly approved the sale of the
operations for a total consideration of up to #30 million with
#28.5 million being immediately payable in cash. That amount
was received on 30 June 2000. The profit on the sale was #26.0
million before tax and #24.7 million after tax.

The results of the Japanese operations are shown as
discontinued operations in the profit and loss account. This
will assist shareholders in assessing the progress being made
in the remaining business in future periods.

Following the sale of the Japanese operations, Mr Takeo Shiina
has tendered his resignation from the Board. I should like to
place on record the Board's appreciation of Mr Shiina's
contribution to the Group.


Balance sheet

As a result of the fundraising andthe disposal of our Japanese
operations, we have transformed the balance sheet of the Group.
We now have net assets of #19.5 million compared with net
liabilities of #10.4 million as at 31 December 1999.

The strong balance sheet enables us to embark on our
acquisition strategy and, on occasion, in the right
circumstances and with relevant stakeholders' approvals, take
equity in lieu of fees for our consulting work.

Strategic update

All aspects of our strategic developments are on course. In
the second half we anticipate further and higher like-for-like
group turnover growth. We aim, by the fourth quarter, to be at
least growing in line with the market quarter on quarter
(currently estimated to be between 15% to 20%).

We further aim to ensure that our geographic coverage is such
that some 50% (or more) of our turnover is attributable to
North America. For the reasons noted above, we expect reduced
turnover in the rest of the Group in 2000. However, as a result
of investment spend in the second half embracing all geographic
regions, we should identify, by the fourth quarter, underlying
improvements in their new business activity with tangible
results being seen in all regions by the first quarter of 2001.

Group wide investment will also be made in Knowledge Management
and the IT infrastructure.

As for the first half of the year, the investment in IT,
Knowledge Management as well as employees will continue to be
wholly or substantially charged to the profit and loss account.

Acquisitions

We are actively exploring a number of acquisition opportunities
but it would be premature to judge when we will be in a
position to announce a transaction as each potential deal needs
to be carefully assessed and structured to avoid the pitfalls
commonly associated with the acquisition of people businesses.
Nevertheless, we can report that there is a good flow of
potential opportunities, which we assess carefully on a case-by-
case basis.


Name change

To recognise that, over time, the Group will have a collection
of consulting offerings, each with specific expertise, the
Group has decided that it will change its name to avoid
confusion between the name of the holding company and the
existing consulting offering.

Concurrent with the first significant acquisition, the name of
the Company will be changed to Management Consulting Group PLC.
Operating companies will, ingeneral, continue to use their
existing brand names.

Future prospects

The order book at 30 June 2000, after taking account of the
sale of Japan, is 25% up on a year ago and has been restored to
a solid level on the back of excellent progress in North
America. Progress in the other regions is planned to become
apparent late in the second half.

On the basis of the known order book, current prospects and the
underlying actions already taken, the directors view the
outlook with a strong degree of confidence to the extent that
the Group will meet its target of delivering revenue growth in
the second half that is demonstrably, at or ahead of, market
growth rates.

As noted in previous statements, operating profitability will
continue to be adversely impacted by the investment spend to be
charged to the profit and loss account. In the second half we
anticipate making further progress in: increasing the
underlying profitability (before investment spend); the
development of the core business; and the expansion of the
consulting offerings.


Dr Rolf Stomberg
Non-Executive Chairman
15 August 2000


MORE TO FOLLOW

IR BCGDICBBGGGS



ADVANCED FINANCIAL NETWORK



Sardine - 15 Aug'00 - 12:29 - 46 of 62 edit


RNS Number:4549P
Proudfoot Consulting PLC
15 August 2000


PART TWO


PROUDFOOT CONSULTING PLC - INTERIM RESULTS FOR THE SIX MONTHS
ENDED 30 JUNE 2000 - PART TWO


Proudfoot Consulting Plc
Group profit and loss account
six months ended 30 June 2000


unaudited unaudited audited
six months six months year
ended ended ended
Note 30 Jun 30 Jun 31 Dec
2000 19991999
#'000 #'000 #'000
------- ------ -------
Turnover
- continuing operations 14,262 12,731 25,309
- discontinued operations 6,228 5,380 11,999
------- ------- -------
Total Turnover 1(a) 20,490 18,111 37,308
Cost of sales (15,136) (12,635) (26,995)
------- -------- --------
Gross profit 5,354 5,476 10,313

Administrative expenses
- excluding exceptional items (6,385) (4,791) (10,138)
- exceptional items 2 - - (2,749)

Total administrative expenses (6,385) (4,791) (12,887)

Operating (loss)/profit
- continuing operations (2,412) (1,269) (6,365)
- discontinued operations 1,381 1,954 3,791

Total operating (loss)/profit (1,031) 685 (2,574)

Profit on sale of discontinued
operations 2 26,025 - -
------ ------ -------
Profit/(loss) on ordinary
activities before interest 24,994 685 (2,574)
Interest receivable and
similar income 315 288 757
Interest payable and similar
charges (191) (107) (24)
------- ------- -------
Profit/(loss) on ordinary
activities before taxation 1(b) 25,118 866 (1,841)
Tax on profit/(loss) on
ordinary activities (1,609) (485) (1,465)
------ ------- --------
Retained profit/(loss) for
the financial period 23,509 381 (3,306)
------ ------- --------

Earnings/(loss) per share 3
- basic 26.2p 0.5p (4.2)p
- diluted 25.8p 0.5p (4.2)p
- headline (1.3)p 0.5p (4.2)p
- adjusted headline (0.6)p 0.5p (4.2)p



Proudfoot Consulting Plc
Group statement of total recognised gains and losses
six months ended 30 June 2000



unaudited unaudited audited
six months six months year
ended ended ended
30 Jun 30 Jun 31 Dec
2000 1999 1999
#'000 #'000 #'000
------ ------ ------
Profit/(loss) for the period 23,509 381 (3,306)
Currency translation
differences on foreign
currency net investments (1,095) (170) (530)
------- ------ -------
Total recognised gains and
losses relating to the period 22,414 211 (3,836)
------- ------ -------

Proudfoot Consulting Plc
Group balance sheet
30 June 2000

unaudited unaudited audited
six months six months year
ended ended ended
30 Jun 30 Jun 31 Dec
2000 1999 1999
#'000 #'000 #'000
------- ------- ------
Tangible fixed assets 764 1,122 1,062
------ ------- ------

Current assets
Stocks 10 15 11
Debtors
Falling due within one year 3,509 3,647 2,510
Falling due after one year 935 1,610 1,106
Cash at bank and in hand 38,852 7,945 7,467
------ ------- ------
43,306 13,217 11,094

Creditors : amounts falling
due within one year (13,015) (10,971) (12,786)
------- ------- -------

Net current assets/
(liabilities) 30,291 2,246 (1,692)
------- ------- -------
Total assets less current
liabilities 31,055 3,368 (630)

Creditors : amounts falling
due after more than one year (1,395) (1,259) (1,072)

Provisions for liabilities and
charges (10,146) (8,457) (8,693)
------- -------- -------
Net assets/(liabilities) 19,514 (6,348) (10,395)
------- -------- -------

Capital and reserves
Called up share capital 26,197 19,858 19,858
Share premium account 13,395 12,907 12,907
Other reserves (2,733) (1,946) (2,306)
Profit and loss account (17,345) (37,167) (40,854)
-------- -------- --------
Shareholders'funds/
(deficit) - equity 19,514 (6,348) (10,395)
-------- -------- --------




Proudfoot Consulting Plc
Group cash flow statement
six months ended 30 June 2000

unaudited unaudited audited
six months six months year
ended ended ended
30 Jun 30 Jun 31 Dec
2000 1999 1999
Note #'000 #'000 #'000
------- ------- ------
Net cash outflow from
operating activities 5 (1,379) (289) (175)

Returns on investments and
servicing of finance
Interest received 160 288 402
------ ------- -------
Net cash inflow from returns
on investments and servicing
of finance 160 288 402

Taxation (375) (480) (610)

Capital expenditure and
financial investment
Purchase of tangible fixed
assets (359) (208)(454)
------ ------ -------
Net cash outflow from capital
expenditure and financial
investment (359) (208) (454)

Disposals
Proceeds from disposal of
subsidiary, net of expenses 27,642 - -
Cash disposed of with
subsidiary (1,287) - -
------- ------ ------
Net cash inflow from disposals 26,355 - -

Equity dividends paid - (239) (477)
------ ------- ------

Cash inflow/(outflow) before
use of liquid resources/
financing 24,402 (928) (1,314)

Management of liquid resources
Cash transferred (to)/from
short term deposits (920) 876 1,653
------- ------ ------
Net cash (outflow)/inflow
from management of liquid
resources (920) 876 1,653

Financing
Net proceeds from issue of
ordinary shares 6,827 - -
------ ------ ------
Net cash inflow from financing 6,827 - -
------ ------ ------

Increase/(decrease) in cash
in the period 30,309 (52) 339
------ ------ -------


Proudfoot Consulting Plc
Notes

1. Segmental information
(a) Turnover
There is no material difference between turnover by
geographical destination and turnover by geographical origin.
The analysis of turnover by geographical destination is as
follows:

unaudited unaudited audited
six months six months year
ended ended ended
30 Jun 30 Jun 31 Dec
2000 1999 1999
#'000 #'000 #'000
------ ----- ------
Americas 8,847 5,938 9,668
Europe 4,132 4,600 11,234
Africa 713 1,086 1,785
Asia Pacific(formerly
described as Pacific Rim) 570 1,107 2,622
----- ------ ------
14,262 12,731 25,309
Discontinued operations-
Japan and Korea 6,228 5,380 11,999
------ ------ ------
20,49018,111 37,308
------ ------ ------


(b) Profit/(loss) before taxation
The analysis of the profit/(loss) by geographical region is
as follows:

unaudited unaudited audited
six months six months year
ended ended ended
30 Jun 30 Jun 31 Dec
2000 1999 1999
#'000 #'000 #'000
------ ----- ------
Americas (6) (432) (1,774)
Europe (1,565) (411) (598)
Africa (454) (229) (1,050)
Asia Pacific (formerly
described as Pacific Rim) (387) (197) (194)
------- ------- -------
(2,412) (1,269) (3,616)
Exceptional item - Americas - - (99)
- Europe - - (2,650)
------- ------- -------
(2,412) (1,269) (6,365)
Discontinued operations -
Japan and Korea 1,381 1,954 3,791
------- ------- -------
Total operating (loss)/profit (1,031) 685 (2,574)
Exceptional gain on disposal
of discontinued operations 26,025 - -
Net interest 124 181 733
------- ------- --------
Group profit/(loss) before
taxation 25,118 866 (1,841)
------- -------- --------

Notes

1. Segmental information (cont'd)

Following the sale of the Japanese operations, central
overheads have been allocated to the continuing businesses.
The 1999 figures have been restated on a comparable basis.
This has the effect of increasing the profit made in Japan for
the six months ended 30 June 2000 by #1.0 million
(30 June 1999: #0.7 million and 31 December 1999: #1.6
million).

2. Exceptional Items

For the six months ended 30 June 2000, there is an exceptional
pre-tax profit of #26.0 million arising from the disposal of
Proudfoot (Japan) Limited which has been treated as a
discontinued operation. The exceptional profit after tax
amounts to #24.7 million. Proudfoot (Japan) Limited has been
granted an exclusive licence to operate in Japan and Korea for
20 years from 1 July 2000. Accordingly references to it in
this report and in the future will refer to 'Proudfoot - Japan
and Korea'. In the 18 months ended 30 June 2000, its entire
turnover is solely attributable to Japan,and the Group has had
no business in Korea.

For the year ended 31 December 1999, there was an exceptional
item of #2,749,000 in respect of actions relating to the review
of the Group's operationsand strategic options. These costs
included the recruitment of the new executive management team,
headcount reduction and professional fees associated with both
the strategy review and its implementation.


3. Earnings per share

The basic earnings per share is calculated by dividing the
earnings attributable to ordinary shareholders by the weighted
average number of Ordinary Shares in issue during the period.

For diluted earnings per share, the weighted average number of
Ordinary Shares in issue is adjusted to assume conversion of
all dilutive potential Ordinary Shares.The Group's only
categories of potentially dilutive Ordinary Shares are Share
Options granted to employees where the exercise price is less
than the average market price during the period and shares
potentially to be issued to executive directors under a long-
term incentive plan.

The average market price for the six months ended 30 June 2000
was 33.7 pence (30 June 1999: 21.5 pence and 31 December 1999:
19.5 pence).

Headline earnings per share continues to have widespread
acceptance and has been calculated in accordance with the
definition in the Institute of Investment Management Research
('IIMR') Statement of Practice No. 1, 'The Definition of IIMR
Headline Earnings'.

Adjusted Headline earnings per share makes a further adjustment
to remove the amount charged to the profit and loss account and
credited to reserves for the Management Investment Plan in
accordance with UITF 17.

Reconciliations of the earnings and weighted average number of
shares used in the calculations are set out below:


3. Earnings per share (cont'd)


weighted
Six months ended 30 June 2000 average earnings
(unaudited) number of per share
earnings shares amount
#'000 (million) (pence)
------- ---------- ---------
Basic EPS
Profit attributable to
shareholders 23,509 89.9 26.2

Effect of dilutive securities
Options 1.2 (0.4)
------- -------- ---------
Diluted EPS 23,509 91.1 25.8
------- -------- ---------

Basic EPS 23,509 89.9 26.2
Effect of discontinued
operations (24,660) (27.5)
------- ------- ---------
Headline EPS (1,151) 89.9 (1.3)
Effect of charge for
Management Investment Plan 584 - 0.7
------- ------- ---------
Adjusted Headline EPS (567) 89.9 (0.6)
------- ------- ---------



weighted
Six months ended 30 June 1999 average earnings
(unaudited) number of per share
earnings shares amount
#'000 (million) (pence)
------- ---------- ---------
Basic EPS
Profit attributable to
shareholders 381 79.4 0.5
Effect of dilutive securities
Options - -
-------- -------- --------
Diluted EPS 381 79.4 0.5
-------- -------- --------


weighted
Year ended 31 December 1999 average earnings
(audited) number of per share
earnings shares amount
#'000 (million) (pence)
-------- --------- ---------
Basic EPS
Loss attributable to
shareholders (3,306) 79.4 (4.2)

Effect of dilutive securities
Options - -
-------- --------- ---------
Diluted EPS (3,306) 79.4 (4.2)
--------- --------- ---------


4. Dividends

The directors intend to retain reserves to reinvest in the
business and, consistent with the previously announced policy,
no dividend is payable.

5. Reconciliation of operating (loss)/profit to net cash
flow from operating activities

unaudited unaudited audited
six months six months year
ended ended ended
20 Jun 20 Jun 31 Dec
2000 1999 1999
#'000 #'000 #'000
--------- -------- --------

Operating (loss) / profit (1,031) 685 (2,574)
Depreciation 212 205 533
Profit on sale of tangible
fixed assets (21) (3) -
Decrease in stocks1 5 9
Increase in debtors (999) (1,971) (383)
Increase in creditors 65 790 1,965
Increase in provisions 394 - 275
-------- -------- --------
Net cash outflow from
operating activities (1,379) (289) (175)
------- -------- --------


6. Statutory Accounts

The above financial information does not constitute statutory
accounts as defined in Section 240 of the Companies Act 1985.

The statutory accounts for the financial year ended 31 December
1999, upon which the auditors issued an unqualified opinion
pursuant to section 235 of the Companies Act 1985 and which do
not contain a statement under sub-section (2) or (3) of Section
237 of that Act, have been delivered to the Registrar of
Companies.


7. Interim Report

A copy of the Group's Interim Report will be sent to
shareholders on 25 August 2000 and copies will be available at
the Company's registered office at 21 New Fetter Lane, London
EC4A 1AW.


END
IRCBCGDIBDBGGGS





spooky - 15 Aug'00 - 13:36 - 47 of 62


Sardine - I thought it time for a new thread,this time avoiding the word dog in the title.

Sardine - 15 Aug'00 - 15:48 - 48 of 62 edit


Proudfoot is no longer a dog. With a share price in the low fifties today, this is now official.

Please post to new thread!!!

Sardine - 04 Oct'00 - 01:09 - 49 of 62 edit


My thread got hijacked! As I have been following this one with some interest for some time I thought that I would reinstate it together with the opening post of the new thread below which is well worth a read. As the Nas closed well down tonight and you might be feeling a bit bored tomorrow then please try reading the lot. Ta!

spooky - 15 Aug'00 - 13:34


A few facts to add to today's figures:

1.The Business. The company is ahead of where it expected to be and business is in the process of booming in N.America,the first geographical region to be restructured.

2.Recruitment. In N.America last year there was one (yes one) consultant,this year there are two,hence the increase in business.Next year there will be ten.

At the start of the year there were 25 consultants globally at the end of the year there will be 35.

The company has just recruited the head of sales at Anderson Consulting (France) to head up its European operations - this is a major coup and emphasises the next point.

The word is out in consulting circles that Proudfoot is going places and attracting the very best consulting talent has been easier than expected.

3.Acquisitions.An acquisition is imminent and it may be large.The company have the full backing of major shareholders and has adopted very strict criteria in the assessment of possible targets.The acquisition will either be a private consultancy or the consultancy division of a larger company,and is most likely to be in the U.S.
Any target will be paid for in shares which the encumbent management will be required to retain in accordance with strict guidelines.

Internal staff,below board level,are now very bullish about prospects for the company and they are buying stock.They think the shares are going up ,what do you think?


If one of you clever chappies could post up a chart I would be most greatful. A three year line chart will do.



capablanca - 04 Oct'00 - 01:15 - 50 of 62


Hello Sardine, how is the golf going?
Lost your balls lately?

PS Go to bed!

Sardine - 04 Oct'00 - 01:24 - 51 of 62 edit


Need Three Year Line Chart! Many thanks..............

Sardine - 28 Nov'00 - 08:40 - 52 of 62 edit


RNS Number:8151U
Proudfoot Consulting PLC
28 November 2000



Proudfoot Consulting acquires the European operating business of IMR


Change of name to Management Consulting Group PLC


Proudfoot Consulting announces today that it has agreed terms for the
acquisition of the European operating business of the Institute of Management
Resources ('IMR') together with certain intellectual property currently owned
by IMR and used by the European operating business (together 'IMR Europe').
The initial consideration amountsto US$25 million (approximately #17.8
million) and further deferred consideration may become payable. The maximum
amount of deferred consideration payable is US$6 million (approximately #4.3
million) and its fair value is estimated to be US$4 million (approximately #
2.8 million).


The initial amount payable of US$25 million (approximately #17.8 million) will
comprise cash of US$19 million (approximately #13.5 million) and new Proudfoot
Consulting shares with a value of US$6 million (approximately #4.3 million).


The deferred consideration is payable in cash or Proudfoot Consulting shares,
at Proudfoot Consulting's option.



No deferred consideration is payable if the market value of the New Shares
being issued as part of the initial consideration at least doubles in value
from the market value of such shares as at 29 November 2000. Otherwise the
deferred consideration is equal to the difference between US$12 million
(approximately #8.5 million) and the market value of the New Shares as at the
earlier of the date on which Proudfoot Consulting issues its results for the
year ending 31 December 2002 and 31 March 2003.


For the year ended 31 December 1999 IMR Europe's operatingprofit was #3.9
million on turnover of #21.5 million.


The acquisition is conditional on shareholders' approval. Shareholders will
also be asked to approve the previously announced change of the name of
Proudfoot Consulting Plc to Management Consulting Group PLC.


Commenting on the acquisition, Rolf Stomberg, Chairman of Proudfoot
Consulting, said:



'Our strategy includes the widening and deepening of our consulting offerings.
Growth through acquisition is an important part of this strategy and the
acquisition of IMR Europe is a significant step forward.'



Commenting on the acquisition and name change, Kevin Parry, Chief Executive of
Proudfoot Consulting, said:



'IMR Europe's business is complementary to the existing Proudfoot Consulting
operations in Europe. The combined European business will provide much
greater depth to our client base. The strong presence in both North America
and Europe will be very attractive to multinational clients of both Proudfoot
and IMR Europe.'



'During 2000, we will have sold Proudfoot Japan for #30 million and bought an
established similar sized business in Europe for under #21 million. This
increases our focus on our favoured Western markets and leaves us with a
strong balance sheet still with #19 million of cash.'



'The new group name has been selected with an eye to the future: we intend to
create a group with different anddistinct consultancy offerings. The name
change will serve to avoid confusion between individually branded
consultancies and the holding company.'



Proudfoot Consulting will be sending a detailed circular to shareholders
shortly setting out details of the acquisition and name change and of
forthcoming Extraordinary General Meetings.



For further information, please conta

[sue42] 10/5/2002 10:25

Anyone got any ideas on this share issue? 1 for 8 @ 67p?

[sue42] 10/5/2002 10:03

What's this share issue about? 1 for 8? @67p

[charles oliver] 06/5/2002 20:48

I'd rather be a buyer than a seller at theses levels. A good company in a solid sector.

[limpsfield chartist] 06/5/2002 19:09

$95 looks like big support

[patricia em] 30/3/2002 09:26

The following is taken from the Broker buys section of today's Daily Mail:


'Managementment Consulting:

Teather & Greenwood says buy at 72 1/2p (now 76p). Is good long-term value.'

[2francs] 19/3/2002 00:18

Well the market seems to think so anyway, which is good enough for me.
Back in at 66.3p

[sardine] 18/3/2002 13:07

Trawler: In case you miss this................LONDON (AFX) - Management Consulting Group PLC said in its results for the
year ended Dec 31, 2001 that its pretax profit fell to 606,000 stg from 18.901
mln last year which was below market expectations of 1 mln stg pretax profit.
Total turnover rose to 72.122 mln stg from 37.921 mln while earnings per
share fell to 0.05 pence from 17.7 pence a year earlier.
The company said that provided the group shows strong operating cash flow
for 2002, it will recommend a "modest" final dividend.
Chairman Rolf Stomberg said that deputy chairman and former chairman William
Turner will retire at the next AGM.
Stomberg also said that during the year it completed the 11 mln stg
acquisition of Czipin & Partners. He said the deal comprised 4.7 mln stg on
completion -- 2.8 mln cash and 1.9 mln stg of shares -- and the balance of 6.3
mln payable in cash (2.6 mln) and shares (3.7 mln) on various dates ending on 31
May 2004.
He said Czipin & Partners provides similar consulting services to Proudfoot
Consulting -- the former name of Management Consulting -- primarily in the
German speaking countries of Europe.
ob
NNN

For more information and to contact AFX: www.afxnews.com and www.afxpress.com