Mouchel has experienced a difficult year in 2010/11 and results have been disappointing. The Group's revenue fell by 14.7% to £539.6m (excluding exceptional items), while underlying operating profit fell by 61.9% to £15.7m.Revenue
 Operating profit
| Key |  | Government Business Services |  | Highways |  | Regulated Industries |  | Management Consulting |
StrategyOur current strategy is to focus on our core public sector markets: Highways, Local Government and Regulated Industries, which will be supported by our Management Consulting business-change expertise. Read more about our strategy. | Business segment
by % Group revenue
41% Government Business Services
38% Highways
15% Regulated Industries
6% Management Consulting Geography
by % Group revenue
93% United Kingdom
7% Europe, the Middle East & Australia Competitive strengthsMarket-leading businesses Secured significant opportunities in year Stable Middle East business Strong and loyal customer base with growth opportunities Lenders supportive of new management New banking facilities with additional investment and appropriate covenant headroom Strong underlying business Talented and dedicated people
OutlookThe outlook for Mouchel is challenging in the short term. Our revenue is likely to be under continuing pressure as a result of uncertainty last year arising from our financial position and takeover approaches which is adversely affecting our ability to win new business. The economic environment is also putting pressure on margins across our markets as clients continue to face cutbacks in spending. Our new lending facilities give Mouchel the necessary stability we need whilst we restructure our balance sheet in the first half of 2012. But the facility also has associated costs. As a result of all of the above the Board’s expectations for the outcome for 2012, compared with the current year, are significantly reduced.
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