Trading Update
July 27 2010 - 2:00AM
UK Regulatory
TIDMMRN
RNS Number : 9576P
Morson Group PLC
27 July 2010
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| For Immediate Release | 27 July 2010 |
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Morson Group PLC
("Morson" or the "Group")
Trading Update
Morson, the UK's leading provider of technical engineering personnel and project
design solutions to the aerospace and defence, nuclear and power and rail
industries is pleased to issue the following trading update. The Group expects
to announce its interim results for the six months ended 30 June 2010 in the
week commencing 20 September 2010.
The trading performance of the Group for the first half of the financial year
has been in line with Directors expectations.
Whilst our trading environment has remained challenging and is expected to
remain so, the strength of the Morson business model, which has seen the Group
through many economic cycles, has resulted in good customer retention and new
business wins. Our forward visibility is strong, driven by the requirements of
on-going major key UK infrastructure projects.
During the last seven weeks we have completed the acquisitions of the business
and assets of both Wynnwith Group Limited and most recently AceTech Personnel
Limited. Each of these strategic acquisitions builds on the strength of the
Morson brand, further expanding the range of services the Group offers,
broadening our blue chip client base and extending our geographic reach. It is
early days in the integration of both acquisitions but the initial signs are
encouraging and we are confident that they will provide opportunities for
increasing our market share.
We continue to evaluate a range of growth opportunities and will make selective
investments where we believe they will add value for Morson shareholders. We
believe that Morson is well placed to benefit from any upturn in trading
conditions.
ENDS
For further information, please contact:
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| Morson Group PLC | |
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| Ged Mason, Chief Executive | +44 (0)161 707 1516 |
| | |
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| Paul Gilmour, Finance | |
| Director | |
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| Kevin Gorton, Managing | |
| Director | |
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| | |
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| Brewin Dolphin (NOMAD) | |
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| Matt Davis | +44 (0)845 213 4730 |
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| | |
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| Buchanan Communications | |
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| Diane Stewart | +44 (0)20 7466 5000 |
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| James Strong | |
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| Carrie Clement | |
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Notes to Editors
Established in 1969 Morson is the largest and one of the longest established
technical staffing companies in the UK. The Group currently provides personnel
on long term assignments for some well known major infrastructure and defence
projects. These include the Queen Elizabeth aircraft carrier, Bombardier Lear
Jet, rail maintenance and upgrades for Network Rail, Transport for London and
also nuclear design, decommissioning, maintenance and asset improvement.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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