Management Consulting bosses top up after results

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Bosses at Management Consulting Group (MC) have been topping up their stakes in the company following the business consultancy group's full year results.

Executive director Luiz Carvalho took 167,625 shares at 33p a time, spending a total of about £55,000. That takes his holding to about 1.2m shares, almost 0.3% of the company.

Chairman Alan Barber took 136,363 shares to lift his stake to just over 1.8m shares and chief executive Nicholas Stagg took 495,454 and now has about 495,000. They both also paid 33p a share.

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Stagg and Calvalho have agreed not to sell their shares before the end of 2013 if they continue to be executive directors.

MC's revenue in 2010 was down to £270.4m from £276.5m the previous year, though pre-tax profits jumped to £14.3m from £6.3m.

"After the challenging economic conditions experienced in 2009, the global economic environment in 2010 again provided a difficult backdrop for our clients and our businesses," the company said.