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Profit increase for Mouchel Group
Oct 8 2008 by Alex Turner, Liverpool Daily Post
INFRASTRUCTURE services giant Mouchel Group yesterday announced a significant increase in revenue and underlying profits.
However, the company, which operates 2020 Liverpool as a joint venture with the city council, did admit that its margins were reduced in the year to July 31.
Profit before tax and exceptional items increased by 20% to £38.8m on revenues of £657m.
Turnover was up 46%, boosted by the acquisitions of business processing outsourcing firm HBS and management consultancy Hedra, although underlying revenue still increased 14%, which was in line with the company’s target of 10 to 15%.
Mouchel said it expected margins to improve towards its 8% target after the impact of the acquisition of HBS had been absorbed. Operating margins had been dragged down to 6.4%, a fall of one percentage point from the previous year.
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