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MDA consulting has suffered a double blow with poor financial results and the loss of its chairman Charles Johnston.

The company鈥檚 latest results show it made a small loss for the year to 30 September 2005 of 拢5,300. Group turnover for the period was 拢9.5m. The firm employs 140 people, including 119 fee earners.

Johnston is understood to have left the firm following a disagreement with the company board. Finance director Ian Storier is also believed to be leaving. Johnston owns a 16% holding in MDA or 8,000 shares. Storrier owns 5,000 shares.

Johnston told QS 好色先生TV he was in the midst of "sensitive negotiations" with MDA and would likely sell his stake in the firm.

A source close to the firm said MDA would become a turnover target if it was unable to buy back Johnston鈥檚 shares.

He added that MDA had 鈥渢oo many offices鈥� around the UK, resulting unmanageable overheads.

Johnson鈥檚 was paid 拢205,000 for the year by MDA.

The source added that Johnston and Storrier were the only directors absent from a recent MDA party to celebrate a member of staff, Roy Smith, serving 40 years at the firm.