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June 5, 2015
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UK: MCI Group Reports £3.4m Drop in Profit

MCI Group recorded a €4.6m (£3.4m) profit drop in 2014.

The Geneva-based company’s new financial figures show that net profit in 2014 was €790k (£581k), compared to €5.4m (£3.97m) in 2013.

Turnover in 2014 was €345.1m (£253.8m), a rise on 2013’s figure of €339.3m (£249.4m). This led to a gross margin of €122.2m (£89.9m), a 5.3 per cent increase on 2013.

However, the firm's net profits took a hit following an unexpected slowdown in the BRIC economies and to a lesser extent the Middle East, while the company was also hit by fluctuations in foreign exchange rates.

CEO Sebastian Tondeur said: "We have been impacted by a lack of anticipation on the slow down in economies that have traditionally been pulling global growth. Also, in the past three years, currency fluctuations have become more of a challenge. This is out of our control but a number of central banks have influenced 'very last minute' some global currency parities and we were materially impacted."

Read more at MeetPie.com...

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