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Technology / AI and automation

CMG REPORTS PROFITS UP 34% ON REVENUES UP 21%

In a market where the shortage of skilled labor is intensifying, CMG Plc, the phenomenally successful Anglo-Dutch consulting and software firm, continues to attract the right stuff faster than anyone else. Net profits for the six months to June 30 are up 34% at 9.5m pounds on revenue that rose 21% to 140.7m pounds. If currency effects are removed (76% of revenue derives from the Netherlands and Germany) profits are up 54% on revenue up 39%. CMG makes its money from charging out its software consultants, and staff numbers have increased from 3,000 in June last year to over 4,200 a year later. Chairman Cor Stutterheim puts the company’s recruitment success down to CMG’s culture of openness. It may also have something to do with the company wide employee share ownership scheme, which at the last count averaged 100,000 pounds per employee. The interim dividend is up 30% to 2.6 pence with the final dividend expected to total 7.8 pence for the year.

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CBR Staff Writer

CBR Online legacy content.