Mouchel reports. The City notices.
At the height of the credit crunch last year, with the market in meltdown, Mouchel put out a good set of figures. And no one - but us - seemed to notice.
And now it’s Richard Cuthbert’s misfortune to put out a shocking interim management statement just after Atkins’ good results. And boy did the City notice: Mouchel’s just lost a third of its value.
Apart from general economic problems, which Atkins is weathering well, Mouchel’s statement betrayed a list of very specific concerns, among them: Dubai, rail, local government consulting (after splashing out on Hedra), BPO (after splashing out on HBS), the pension deficit, debt levels…
In short, a lot is going wrong at once.
