Management Consulting Group says it will continue to invest in organic growth in key markets as profits have increased, according to results for the year ended 31 December 2010.

The group’s results reveal:

• Revenue broadly unchanged from previous year at £270.4m (2009: £276.5m)
• Operating profit up 88% to £18.0m (2009: £9.6m)
• Underlying operating profit down 17% to £23.3m (2009: £28.0m)
• Underlying operating margin lower at 8.6% (2009: 10.1%)
• Net debt at year end down 35% to £54.4m (2009: £83.5m)

Chief executive Nick Stagg says: “In 2010 we took decisive action to make the group a more robust business with improved prospects for growth in 2011 and beyond.

“During the period, we strengthened our balance sheet, reduced costs, and successfully completed the formation of Kurt Salmon, alongside Alexander Proudfoot.

“We will continue to concentrate our efforts on investing in organic growth in our key markets, and improving operational efficiency, to progressively benefit our bottom line performance over the next two years.”