Morse Share Discussion Threads

[tom.b] 12/1/2010 09:02

Well that's pretty good then... but where's the info on the takeover news does anyone know if it's still on? or the timeframe.. TIA

[mickieblue] 12/1/2010 07:16

Pre-close Trading Update

RNS Number : 3770F
Morse PLC
12 January 2010

?
12 January 2010
Morse plc


Pre-close trading update for the six months ended 31 December 2009


Morse plc ("the Group" or "the Company", LSE: MOR.L), the IT services and
technology company, announces that the Group expects to report Adjusted EBIT*
from continuing operations for the six months ended 31 December 2009 of
approximately GBP3.6m which will show significant year on year growth on the
reported figure of GBP1.0m for the six months ended 31 December 2008. At 31
December 2009, the trailing twelve months Adjusted EBIT is expected to be
approximately GBP6.8m which is growth of more than 60% on the year ended 30 June
2009 figure of GBP4.2m.


Revenues in the six months ended 31 December 2009 are expected to be marginally
more than the revenues in the second half of the financial year ended 30 June
2009 (H2 2009: GBP104.4m) and in line with the revenues for the six months ended
31 December 2008. Revenue increases in the Group's Infrastructure Services &
Technology businesses (UK, Spain and Ireland) were offset by previously
highlighted revenue reductions in Business Applications Services ("BAS").


The Group's cash position at 31 December 2009 was approximately GBP14.1m
(December 2008: GBP5.9m) and, after taking account of Customer Specific
Financing, the net cash position of the Group was approximately GBP13.6m
(December 2008: GBP3.8m). The updated chart of the Working Capital Cycle of the
Group is available at www.morse.com . During the period from 30 June 2009 to 31
December 2009, the average weekly bank balance across the Group as shown by the
chart was GBP11.8m compared to GBP2.9m in the period 30 June 2008 to 31 December
2008.


Mike Phillips, Chief Executive Officer of Morse plc, commented:


"In light of the economic environment, we are pleased with the progress made in
our Infrastructure Services & Technology business units in growing revenues and
Adjusted EBIT. We believe that the BAS business unit has potential to provide a
significantly better return if it can grow its revenues profitably and our
strategy for the unit seeks to achieve this".

We are confident that, when we announce our Q3 IMS in April, we can again
demonstrate the recovery of our business through the improvement in the trailing
twelve months Adjusted EBIT performance."


Further details will be provided in the interim results statement for the six
months to 31 December 2009 to be announced on 10 February 2009.




* Adjusted EBIT is Earnings before Interest, Tax, Trading Balance Releases and
Exceptional items.


Contacts:
Morse plc Tel: [phone]
Mike Phillips, Chief Executive Officer
Guy Millward, Group Finance Director


Financial Dynamics Tel: [phone]
Giles Sanderson, Haya
Herbert-Burns, Nicola Biles

[she-ra] 17/12/2009 13:30

sandbank - You dont know whats going on.

[kindlm] 17/12/2009 12:46

Although shares in technology consultancy group Morse eased a penny to 373/4p, the boys in dark glasses were adamant they warrant closer inspection.

Rumours continue to do the rounds that a US cash bid worth £71.5million or 55p a share will be launched this side of Christmas.

The board received preliminary approaches at 25p a share in July, which they immediately kicked into touch, saying they 'significantly undervalued the company'. Effectively, that hoisted a For Sale sign above the group's Brentford headquarters.
Out of pocket: Dubai developer Nakheel wheeled out a £2.2billion loss for the first-half of the year

Sources now suggest leading shareholders led by Gartmore (28 per cent) and UBS (11 per cent) have agreed to sell their stakes to an American buyer, possibly Arizona-based Avnet, at a substantial premium to the prevailing market price.

Analysts agree that Morse's days of independence are numbered. Its share price has been battered by the onset of the downturn and falling demand. The group must appear attractive to peers looking to expand in the UK or business services groups planning to expand its IT division.

The Footsie fell 87.53 points to 5,223.13, tripped up by renewed fears about Dubai after credit rating agency Moody's cut the ratings of a raft of Dubai government-controlled companies, citing a lack of government support over the emirate's debt obligations.


Read more:

[sandbank] 17/12/2009 12:15

MICKIEBLUE: MOR Who is offering 55p?

Morse may say they want more than 55p per share for the company - but asking for it is not the same as getting it - particularly as all negotiations were halted a couple of months back and have not resumed.

[mickieblue] 13/12/2009 16:11

Not bothered, i use to work for them and they are a solid company and with an offer of 55p for the company hopefully they will decline the offer and a bidding war will follow.

[she-ra] 11/12/2009 17:41

Mickieblue - You'll have to forgive Mryeyes he's nursing his wounds after he sold too early around March/April '09.

He was pumping it like no tommorrow once and then when he sold (I suspect at a loss) he told everybody it was going under.Morse wasnt talked of going under for very long and the name Morse still stands for something.

He wants it to go down to make himself feel better because he stupidly sold too early.

He probably sold around 8-12p.Would you take advice from someone with such poor judgement?

[mryesyes] 11/12/2009 17:27

Yes, it stands to reason to have a takeover to get rid of the name, as the customers had a year of being told by competitors it was going under
8% rise to 44p can only be put down to a takeover
44p is about right, if it goes much higher the bid/acceptancies will be in danger
If as a result it gets no buyer your 11824 of today M will have been a bad buy short/medium term

[mickieblue] 11/12/2009 09:07

That 11824 was mine.

[victor2] 09/12/2009 07:46

d mail mkt report says poss cash bid for morse from us co.avnet worth 55p per share

[arja] 15/10/2009 15:14

agreed - could go to about 50 per the chart with dips along the way .

[ssur] 15/10/2009 08:50

Looks like a chart breakout to me! I don't proclaim to be an expert chartist. Does anyone concur or disagree with my prognosis?

[broomrigg] 15/10/2009 08:32

Morning Richard. I was a bit disappointed that they didn't make a bullish comment.....but it looks like they are running a nice tightened ship and making money because of it. Maybe they have let the numbers do the talking. So it looks good to me.

What I find interesting are the automatic trades (ATs) that are going through in lumps of 20,000.....quite a few of them so someone is clearly after a lot of stock.

[richard collins] 15/10/2009 08:26

Any comments on this mornings RNS?

[richard collins] 12/10/2009 21:55

Very quiet thread for a stock that has such an interesting chart. Why?

[abbey8] 21/9/2009 12:04

we have more news today, any comments?

[jacob fox] 19/9/2009 16:05

MOR are featured in the Money section [directors dealings] of the FT today - www.ft.com

[victor2] 15/9/2009 14:41

2 directors buying at 35p good news

[debbie shields] 12/9/2009 14:00

Well MOR broke out above the 34p level on Friday [as set by ADVFN's numero uno chartist none other than fingers xxd from the £1 thread of course] on v.good volumes including the PLUS Markets.

This CHART BREAKOUT should see MOR hit 50p in the near term especially as the TAKE OVER rumours just refuse to go away.

[vivgav] 11/9/2009 20:06

40p next test?

[debbie shields] 11/9/2009 09:30

Thanks toby tots ~ here is the link to the Times article on MOR....





Morse

This year's anniversary, the tenth, of Morse's stock market debut is something that its investors might wish to ignore. Apart from a short-lived surge during the dot-com boom, shares in the IT consultancy have largely gone one way from its 250p issue price.

Over that time, the company has been through numerous chief executives and frequent revisions of strategy - evolving from a pure reseller of IT hardware to a management consultant, a provider of school computers, and, through its acquisition of Diagonal, an installer of SAP software.

But investors might breathe a sigh of relief, not only that Morse's shares have bounced sixfold from December's 5p low, but also at the stability brought to date by a new chief executive and finance director. The management consultancy divisions have been sold, leaving Morse focused on project implementation in the UK, Ireland and Spain. Yesterday's full-year results showed that, after a dire first nine months, profits rebounded strongly in the fourth quarter.

Further, borrowings of £8.9 million last year have turned into net cash of £12.7 million. Corporate IT spending remains subdued, and subject to delays. But last month's abortive bid approach indicates that Morse's recovery potential has not gone unnoticed. At 31p, or six times earnings, this is a "speculative buy".

[toby tots] 11/9/2009 09:20

Debbie
Tipped yesterday in the Times as a speculative buy.