Morson Share Discussion Threads

[johnsoho] 21/1/2010 10:08

So, trading conditions not great at the moment BUT results are within analyst forecasts although at the bottom end BUT net debt significantly better than the directors previous estimates AND they are apparently still winning new clients and contracts.....think I will continue to hold those shares I currently have but not yet top up further!!!

This is the Pre close trading update:

Pre-Close Trading update & Notice of General Meeting

Morson, the UK's leading provider of technical engineering personnel and project
design solutions, supplying over 9,000 highly skilled white collar personnel to
the aerospace and defence, nuclear and power, rail and other technical
industries provides the following trading update prior to entering its closed
period ahead of the publication of its preliminary results for the year ended 31
December 2009. The Group plans to announce its preliminary results during the
week commencing 22 March 2010.

In our interim results announcement in September we outlined that trading
conditions were challenging and had worsened in the second quarter. This trend
continued into the second half of 2009 and the unprecedented economic
environment has affected our client base including both government backed
contracts and the wider funding of large infrastructure contracts.


However, Morson is confident that the business model that has served us well
will continue to do so as it provides greater visibility of revenues than the
recruitment sector generally. We are therefore pleased to report that the
results for the year are anticipated to be within analyst forecasts albeit at
the bottom end of expectations and below consensus market forecasts.


Effective cash management and lower working capital requirements have had a
positive impact on Morson's net debt which at the year end stood at GBP11m which
was significantly better than Directors previous estimates.


New clients and contracts do continue to be won and the Board believes that the
Group's position in terms of market share has been enhanced through this recent
stage of the economic cycle. Opportunities, particularly in the nuclear sector,
are likely to present themselves in the medium to long term and the outlook over
this timeframe remains positive.


However, in the short term, whilst the level of market activity overall appears
to have stabilised, no significant upturn is yet apparent and margin pressures
remain.


Accordingly, whilst Morson is able to generate a core stable level of trading
from its key clients and framework agreements the Board anticipates that profits
in 2010 will be below those achieved in 2009.


The Board has reduced overheads in 2009 and remains focused on managing
resources and capability to ensure the business is well positioned to take
advantage of any upturn in the market. As part of this process the operating
business has moved into a new head office which is expected to improve
efficiency.

[johnsoho] 24/12/2009 18:30

A very happy Christmas and new year to all Morson shareholders

[slapdash] 09/11/2009 14:45

moron recruitment appears to be looking up... we are approaching a new high.... unfortuante name though... "hi is moron recruitment there.....".... slap

[investinggarden] 19/10/2009 10:10

Strong Buy Rating from Growth Company Investor

[johnsoho] 15/10/2009 08:14

Always knew this was an excellent company because I know people who work for them but its nice that the industry now recognises them as being excellent as well........

Presented with "Best Recruitment Company" Award


Morson (AIM: MRN.L) the UK's leading provider of technical engineering personnel
and project design solutions, supplying over 9,000 highly skilled white collar
personnel to the aerospace and defence, nuclear and power, rail and other
technical industries, is pleased to announce that its has been awarded the "Best
Recruitment Company to work for" at the annual Recruitment International Awards.


Already ranked as the UK's no. 1 Technical Recruitment company, Morson was
chosen above some of the biggest names in the recruitment industry for the
category of those companies whose turnover exceeded GBP75 million. (As reported
in September Morson had turnover of GBP219.9 million for the 6 month period 1st
January to 30th June 2009).


Held on 13th October at the Gibson Hall in London, the awards and dinner are one
of the biggest in the recruitment industry and attract recruiters from more than
110 companies representing over GBP15 billion of UK recruitment industry
turnover.


Morson is currently celebrating its 40 year anniversary and continues to pride
itself on its staff retention rate. At the 40 year celebration party in March,
18 employees were awarded with long service achievements, which ranged from 10
to 25 years. With the background and values of a family run business, the
executive team take care of Morson employees.


Speaking after the event Ged Mason, Morson CEO said;
"This is a great night for the company and we are immensely proud to have won
this award. We have always said our employees are our biggest asset and we are
committed to rewarding staff through training, career opportunities and
progression, competitive rewards and staff events. Our employees continue to
demonstrate our key values of Excellence through Performance and we will
continue this philosophy when we move into our new headquarters creating an
enhanced modern environment of work for all our staff in the Manchester area."

[qs9] 23/9/2009 09:01

Looks pretty good IMO, decent yield/results/cash etc...

[battlebus] 22/9/2009 23:24

Steady set of interims in the face of recession. Should rise a lot further as recruitment picks up. Dividend still better than the banks.

[johnsoho] 22/9/2009 13:11

Look a very solid set of results to me AND dividend maintained...sp dropped on opening but now climbing back up so hopefully blue by end of day. Will continue to hold and add on any large fallback

[johnsoho] 17/9/2009 14:06

Climbing rather nicely today.....perhaps an indication that the interims maybe better than anticipated!!!!

[johnsoho] 16/9/2009 23:09

Hope so QS9...I know someone who works for Morson's, based on a very large clients premises, and he say's they are really very busy, so we shall see; Interesting that just under 7000 shares traded today, all of which look to be buys, and the share price moves up 4.5p....perhaps there is a shortage of available shares!!!!

Good luck to all holders for Interims on 22nd September

[qs9] 16/9/2009 22:25

Hopefully step up is a good sign ahead of results!

[johnsoho] 09/9/2009 23:26

Morson Group plc (AIM: MRN), the UK's leading provider of technical contract
staffing, supplying over 9,000 highly skilled personnel to the aerospace and
defence, nuclear and power and rail industries will be releasing its Interim
results for the six months ended 30th June 2009 on Tuesday 22nd September 2009.


An analyst meeting will be held at the offices of Buchanan Communications on the
morning of the announcement. Please contact Buchanan Communications for further
details.

[qs9] 31/8/2009 08:37

Have just come across this share, any more detailed posts to be directed to much appreciated and any broker notes?

[johnsoho] 02/8/2009 15:43

Not a bad trading update I think!!!!.....but then what do I know, I thought the share price might be about £1.40 by the end of May............2010 :-)

[johnsoho] 07/5/2009 23:15

I like this company as the share price just continues to go UP and UP from the February lows.....My best guess that the share price will be circa £1.40 by end of May ....will wait and see.

[johnsoho] 24/4/2009 21:00

Just 6 share transactions today....and everyone a purchase.....perhaps we'll get to £1 next week!!!

[johnsoho] 15/4/2009 15:47

Yae I think you are right whites123, I think we will see a lot more activity as people buy in to get hold of the divi. It certainly does not appear to take many buys to move the Morson share price in a northerly direction!!!....who knows perhaps we'll break the £1 barrier within the next few days!!! :-)

[whites123] 15/4/2009 12:11

Thanks for taking the time to post that Johnsoho.
Greatly appreciated... Cheers.

I would not be surprised at all to see more activity than we have witnessed of late in the next two weeks. Purely to grab the divi which is like a 5% discount at todays share price

Cheers

[battlebus] 15/4/2009 12:03

Still rising on little volume.

[johnsoho] 15/4/2009 11:50

Hi Whites123,
In summary what IC said about Morson was that the share price had falled as steeply as those of any recruitment business of the last 12 months but that its operation was rather different to most of them.
Morson had a database of 200,000 contractors and had placed some 9300 of them mainly with UK blue-chip companies in 2008....a third of Morson personnel are in aereospace and defence and nearly a quarter in thr rail and nuclear industries....the only obvious cyclical industry was construction which accounted for just 7%.
Most of Morson contracts are taken on what its either one of several preferred suppliers or when its the managed vendor which means it controla a companys temporary recruitment requirements....last year managed vendor agreements accounted for 50% of turnover and customer contracts tend to last between 3 to 5 years but some of Morson contracts are more than 20 years old.
The downside is that Morson pays most of its contractors weekly but has to wait some 43 days for payment from clients. The balance sheet shows trade and other receivables of £75.6M dwarfing trade and other payables of under £30m...Forecast 2009 adjusted profits expected to rise from £11.6m to £12.4m

[battlebus] 15/4/2009 11:46

up we go again,still time to make a profit yet if you get in under a £1.

[battlebus] 14/4/2009 16:59

ROARING AHEAD NEXT STOP £1

[battlebus] 12/4/2009 13:20

Agree totally Whites1234 but hope that any interest even the smallest will propel the shares to over a £1

[johnsoho] 11/4/2009 22:28

Nice write-up for Morson in this weeks Investors Chronicle,their conclusion is 'Forecast EPS of 19.3p produce a prospective PE ratio of just three. On that rating the shares are attractive'....good value.