MLP ceases business activities in Great Britain and Spain

  • Focus on profitable growth markets

Wiesloch, 10th July 2007 - MLP is withdrawing from the non-profitable markets in Great Britain and Spain and will, in the future, be focussing on the profitable foreign activities in Austria and the Netherlands as well as upon its core market, Germany.

The existing clients as well as some of the employees and consultants will be taken over in Great Britain and Spain by national suppliers respectively. MLP expects one-off restructuring expenditure in the single figure million range and will post both companies as discontinued operations upon completion of these measures. The forecast profit from operations (EBIT) for the continued operations remains for the year 2007 at EUR 110 million.

MLP has been represented in Great Britain and Spain for six and five years respectively with a total of approximately 7,000 clients.