Running a robust business Strong financial management is key to maintaining a robust and resilient business. 2023 saw a softening of the consulting market and we were not able to repeat the stellar performance of 2022 as we had planned. While the revenue outturn was below our ambition, we protected our margins and were comfortably able to meet our financial commitments. The working capital cycle has been optimised for maximum cash efficiency and we continued to enjoy low debtor days and we suffered no bad debts. Fee rates continue to increase through 2023, alongside great levels of utilisation. During our 25th anniversary year, we enjoyed celebrating our success by moving into our new head office, launching our new website and the outstanding summer event attended by over 200 guests at the stunning One Marylebone. The new office and the website are enduring investments, and we will continue to maintain these and make improvements as the need arises.
Our medium-term plans for the next three years reflect our aspiration for steady organic growth. The key financial metrics are outlined below: deployed would be the ideal size for an independent boutique consultancy like ours. We will continue to focus on our core offering of leading Change and Transformation via PPM, Change Management and PMO. For 2024 and beyond, we continue to aim for steady organic growth, recognising that around 100 consultants
2023 Plan
2023 Actual
2024 Plan
2025 Plan
2026 Plan
Average Consultant Day Rates Consultant Revenue (incl. FTCs)
£1,470 £1,539
£1,490 £1,495
£1,500
£26.1m £24.3m £25.5m £26.6m £27.7m
PMO Revenue
£1.8m £0.7m £1.0m £1.0m £1.0m
Consulting Director Revenue
£0.6m £0.2m £0.5m £0.6m £0.7m
Total Revenue (excluding expenses)
£28.5m £25.2m £27.0m £28.2m £29.4m
EBITDA
£6.4m £5.4m £6.1m £6.4m £6.6m
Average Consultants Deployed Average Total Team Deployed (incl. PMO)
79
69
75
81
84
87
73
80
86
89
£33m £28m £28m £29m £30m
Total Sales
6 06
7 07
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