Consulting and business services group will now be known as Mouchel as HBS brand is dropped

Mouchel Parkman has announced strong financial results for the year ending 31 July 2007.

Pre-tax profit at the consulting and business services group was up 82% to £48.1m, while underlying operating profits rose 23% to £33.0m.

In a statement issued to the stock exchange this morning the group also announced it was rebranding to Mouchel Group and said the HBS brand would be discontinued.

Richard Cuthbert, Mouchel chief executive, attributed the growth to recent acquisitions.

He said: “We have done much to support the future development of the group, and this is reflected in the £90 million invested in four acquisitions we have made over the last 12 months which significantly strengthen our standing in highways, water, management consultancy and, most recently in the BPO marketplace through the acquisition of HBS."

“The general market outlook for our services remains good and we continue to be confident about our future prospects.”

Mouchel said it was in line to achieve strategic aim of doubling or trebling the size of its business by 2012 since 2003.