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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Management Resource Solutions Plc | LSE:MRS | London | Ordinary Share | GB00B8BL4R23 | ORD EUR0.01 |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 2.30 | 0.00 | 01:00:00 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| 0 | 0 | N/A | 0 |
TIDMMRS
Management Resource Solutions PLC
12 May 2017
Management Resource Solutions - Conviction Buy Price Target 14.55p
GBP3.5 million fundraising to support working capital puts the company on a solid footing to recommence operational growth after AIM re-list
Management Resource Solutions (MRS) is an Australia based mining services business. Via its two subsidiaries, Bachmann Plant Hire and MRS Services Group, it provides services including plant hire, equipment repair, refurbishment and fabrication, mine rehabilitation, earthmoving, road construction and other support services to a range of private and public sector clients in Australia.
A tough six months at the corporate level but strong future ahead
Shares in MRS were suspended from trading on AIM from 27th October 2016 to 5th May 2017 after disputes with its former CEO and problems within its consulting business led to a delay in publication of the annual accounts. A new management team is addressing the issues and trading in the remaining two divisions is improving.
Total fundraising of GBP4 million for working capital
MRS has raised a total of GBP4 million via two placings at 5p per share and a director subscription. The proceeds will mainly be put towards the payment of creditors and future working capital needs. With the company on a sound financial and operational footing, post re-list it will once again consider additional growth opportunities in line with its previous strategy.
Low valuation provides plenty of scope for upside
On our figures MRS trades on a FY2018 EV/EBITDA multiple of just 4.56 times. This is a low valuation which provides plenty of scope for near-term upside should targeted profit figures for next year be achieved. With our peer analysis suggesting a June 2018 target of 14.55p per share we have a Conviction Buy stance.
To download the full note visit the following link - http://www.alignresearch.co.uk/cpt-company/management-resource-solutions/
This information is provided by RNS
The company news service from the London Stock Exchange
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(END) Dow Jones Newswires
May 12, 2017 02:50 ET (06:50 GMT)
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