Morson Share Discussion Threads

[value viper] 14/10/2011 16:35

i'm in ; saw some chunky buy prints today too

[bottomfisher] 03/8/2011 12:37

Many thanks for that guys. Will climb back under my stone.

[envirovision] 03/8/2011 09:20

Bottomfisher, its brokers consensus, the stock is very well covered with five brokers in total. Current three have Hold and two have buy recommendations.

[bottomfisher] 02/8/2011 22:53

Hi Envirovision. What's the source of your EPS forecast? If it is the company broker then it might be worth something. Since the company refuses to release broker research to private shareholders where are we supposed to pick up these forecasts? You might be able to fully understand MRN's business model and explain away the relentless decline in its profit margins. But MRN is a black box as far as I am concerned. The only plus point is the 6 % dividend yield and a pretty respectable bunch of institutions on the share register. Any sign of them reducing their stakes and I will be pressing the sell button.

[envirovision] 02/8/2011 16:51

EPS forecast is to be 12.39p so they are saying they think they are on target to make that, pretty simple really.

Nothing to get excited about right now though is it. 6% yields ok for the boredom of holding them which all things being equal is better than getting your teeth smashed out with a mallet.

[bottomfisher] 02/8/2011 16:34

What is the point of Morson issuing the following trading statement - "Despite the continued challenging business environment trading for the first six months of the financial year is line with the Board's expectations.".

What are the "board's expectations"? Do they expect profits to rise/fall/mark time? Perhaps MRN's select group of institutional sharehlolders and one or two brokers know what it means. However, ordinary shareholders do not have a clue.

I would love to believe that MRN is a sleeping beauty whose share price will one day spring to life when the UK economy finally starts to recover. However, the paucity of information from the board (small shareholders are not allowed access to the slides for the investor briefings), and the inbred nature of the board (only one independent non-exec), suggests that this is one family run business which would be better off as a private company, rather than a quoted PLC.

[crawford] 15/7/2011 16:36

I noticed, one to watch.

[qvg] 13/4/2011 14:09

thanks Bottomfisher.
I am certainly a shareholder, but not quite sure if I am a fan. In fact I reviewed their 2010 results on Monday, and ended up deciding to Hold. The yield v building society comparison was an important factor in my decision!

[bottomfisher] 13/4/2011 12:55

Long-term Morson fans (are there any left?) may find some small comfort from latest research note from Edison Research focussing on Matchtech, one of Morson's competitors.

On page 7 it gives various valuation ratios which suggests that both Morson and Matchtech are cheap compared with their bigger competitors.

One day Morson's share price might spring to life. But I am not holding my breath. In the meantime it is offering a much better yield than can be earned by leaving money in the building society.

[ibrahim1962] 22/3/2011 14:21

Tyerman story

[essentialinvestor] 07/12/2010 23:03

You know I never realised he left the Conservatives, having been a Tory minister previously.

A very smart investor.

[deadly] 07/12/2010 22:36

Thanks for that - wondered why the sudden interest. This stock is below the radar. But it's a great company.

[bottomfisher] 06/12/2010 10:53

Today's price rise follows tip by John Lee in his monthly investment column in the FT Money section. He bought in at 102p because of MRN's 6% yield and single digit p/e. He says that 'although profits will probably
somewhat lower this year, partly as a result of acquisition reorganisation" he "then looks for growth to be resumed".

Judging by past performance, Lee, a Lib Dem peer and former Manchester stockbroker,has quite a good feel for North West-based companies. He has long been a fan of PZ Cousins and James Halstead, for example.

[red ninja] 17/9/2010 14:19

Copied from iii, DarwenLad post :-



Morson Group plans international expansion to achieve £500m goal
September 16, 2010

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Manpower firm Morson Group is to set up offices in Russia and South Africa as it looks to grow annual revenues to more than £500m by 2011, the company's boss announced at the official opening of its new headquarters in Salford.

They will give Morson, which supplies thousands of staff each year to companies involved in sectors including rail, power, aerospace, defence and nuclear, a presence in seven countries.

Ged Mason said the launches – scheduled to take place in Johannesburg and St Petersburg before the end of this year - are aimed at exploiting opportunities in telecoms, rail and utilities.

They and follow expansion earlier this year into Brazil, where the group has customers in the aerospace and infrastructure sectors.

Morson, which reported revenues of £436.6m for 2009, opened its Adamson House HQ on Centenary Way yesterday.

Chief executive Mr Mason said Morson would continue to seek acquisitions, particularly focusing on companies that will help it expand into new territories and sectors.

And he was enthusiastic about the opportunities he sees in the government's plans to renew its nuclear programme in 2013.

He said: "Considering that the last nuclear power station to be built in the UK, Sizewell B, employed 4,500 contractors, the demand for engineers is set to go through the roof and Morson will benefit.

"It was an area that we were really focused on in the past, whereas now we are more biased towards aerospace and defence."

Morson's new headquarters houses 500 staff and the company engages 10,000 contractors worldwide. Manchester United boss Sir Alex Ferguson and artist Harold Riley spoke at yesterday's opening.

Sir Alex backed Morson's programme of recruiting and training apprentice engineers, saying: "I was an apprentice toolmaker and I think it is an important aspect of modern day Britain to bring back apprenticeships, particularly in engineering.

"Engineering had my heart when I was a young boy. I almost went to Canada to take a toolmaking job because it was very well paid in those days."

Morson is a finalist in the 2010 MEN Business of the Year Awards, in the category for firms with a turnover of more than £50m.

[red ninja] 08/9/2010 05:47

Well there has been a weak recovery, but next year the cuts begin and it may be more difficult from 2011.

[battlebus] 07/9/2010 19:38

Surprisingly all recruiters seem to be handling the downturn.

[red ninja] 07/9/2010 17:17

Staffwise results are encouraging, hopefully MRN can do the same.

[red ninja] 19/8/2010 17:08

Harvey Nash says contract market currently looking up.

[red ninja] 25/6/2010 16:15

Falling today on not much volume, don't you just love illiquid stocks...

[red ninja] 25/5/2010 12:06

Wow, the market is spooked, perhaps by government talk of kicking out the consultants/contractors....