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Tuesday 27 July, 2010

Morson Group PLC

Trading Update

RNS Number : 9576P
Morson Group PLC
27 July 2010
 



For Immediate Release

27 July 2010

 

 

 

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:

 

Morson Group PLC


Ged Mason, Chief Executive             

+44 (0)161 707 1516

Paul Gilmour, Finance Director


Kevin Gorton, Managing Director




Brewin Dolphin (NOMAD)


Matt Davis

+44 (0)845 213 4730



Buchanan Communications


Diane Stewart

+44 (0)20 7466 5000

James Strong


Carrie Clement


 

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
 
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