Mortice Share Discussion Threads

[bad gateway] 24/7/2017 07:30

Yes fine results yet market doesn't seem to have noticed these.
May change today else they'll just have to keep outperforming their share price level til it does.

[jurgenklopp] 24/7/2017 07:25

Outstanding results.
I suspect the reaction will be muted as usual !!

[jurgenklopp] 24/7/2017 07:24

Outstanding results.
I suspect the reaction will be muted as usual !!

[nurdin] 11/7/2017 15:59

Very very illiquid...hard to sell once you have got them.NMS is only 750 shares or perhaps less now, and with punters selling repeatedly all day today it is not surprising that the share price has crumbled.Could be a good opportunity for the brave.

[mfhmfh] 11/7/2017 15:53

I'm being quoted 82 to buy, 66 to sell.

[mfhmfh] 11/7/2017 15:53

lucky I didn't buy. shows what I know.

[jurgenklopp] 11/7/2017 15:30

WTF !!!!!!

[jurgenklopp] 11/7/2017 12:17

This is not a share to trade but, as a hold, it should do very well over the next year or two.

[mfhmfh] 11/7/2017 12:02

strongly thinking of buying some of these. year end results ahead of expectations and Q1 doing well also. FinnCap have increased their tp to 127p from 120p.

[nurdin] 11/7/2017 07:51

yes, pretty good.

[jurgenklopp] 11/7/2017 07:36

Pretty good Q1 trading update this morning.

[nurdin] 04/7/2017 10:28

Price has got stagnant ...can buy on line for 95p...

[nurdin] 14/6/2017 15:35

2017 results already in the bag and more.The stock is trading at just 14x forecast 2018 earnings now....which compares to 20x they were trading at just a few months ago.

[jurgenklopp] 07/6/2017 07:48

Tremendous statement on the current state of affairs at the Company.

Well done Dr Hellawell.

[bad gateway] 07/6/2017 07:39

Directors buying in at a decent premium.
In fact looks like the co. decided on the premium because they felt they were doing better than the share price shows.

[jurgenklopp] 22/5/2017 08:33

Excellent news.

Really does look extremely good value at current levels.

[bad gateway] 22/5/2017 07:25

More good news re contract wins..


Getting cheap as chips here imo and still well under the markets radar

[bad gateway] 17/5/2017 12:32

Should correct the above post I guess as what the co. stated was "EBITDA is expected to be materially above forecasts of US$6.7m" (the £5.2m) not that it would be said 5.2.

[bad gateway] 15/5/2017 08:46

They look to be good revenue/ebitda no's for a £54m co. imo. Converts to £5.2m ebitda so presuming growth continues this will soon look far too cheap? Seems a fair buy and hold imo.

[letmepass] 15/5/2017 08:29

Year high.. Building nicely.

[jurgenklopp] 15/5/2017 08:15

Up to 102 offer.

Still looks to have mileage.

[letmepass] 15/5/2017 08:09

Due to the strong performance of the combined existing and acquired businesses, the financial results for the year to 31 March 2017 are expected to be materially ahead of current market expectations.

[jurgenklopp] 15/5/2017 08:07

Mortice Limited (AIM: MORT), the AIM listed security and facilities management company, provides the following trading update for the 12 months ended 31 March 2017.



Financial Highlights

Due to the strong performance of the combined existing and acquired businesses, the financial results for the year to 31 March 2017 are expected to be materially ahead of current market expectations.



Revenue increased by approximately 35% to US$180m (2016: US$133.5m) and EBITDA is expected to be materially above forecasts of US$6.7m (2016: US$5.6m), driven by the increase in revenue as well as greater cost optimisation throughout Mortice. Net debt at the year 31 March 2017, was $13.6m (2016:$14.5m).



Mortice achieved strong growth across all parts of the business with facilities management revenues growing approximately 44% to US$82m (2016: US$56.8m) and security services revenues growing approximately 28% to US$97m (2016: US$75.5m). The majority of sales continued to come from India, although overseas sales increased substantially following strong performances from Office & General ("O&G") in the UK (now rebranded Tenon FM Ltd, and Frontline Security Pte. Ltd ("Frontline") in Singapore. Both these businesses have now been fully integrated into the business and are performing ahead of management's expectations at the time of acquisition.



Operational Highlights

The Company continued to add new clients and strengthen existing relationships during the period with key contract wins in India, including J&K Bank, Amazon and Kotak Mahindra Bank, Ocwen financial Corporation, and Jubilant each of which is worth in excess of $500,000 per annum. In the UK, O&G was appointed to London Universities' £60m cleaning framework and strengthened relationships with Amey, CBRE and the University of Arts London. O&G is now trading under the name Tenon FM Ltd as part of a group-wide rebranding initiative focused on creating a global brand presence.



Acquisition Update

Post period end the Company completed the £4.5m acquisition of Elite Cleaning & Environmental Services Ltd ("Elite"). The earnings enhancing addition further strengthened the Company's UK reach adding a number of blue chip clients to the Company's customer base. Integration is continuing well and Elite has added new customers since the acquisition.



Outlook

The Company sees tremendous scope for organic and acquisitive growth, both within existing markets and new territories. Underpinned by high levels of recurring revenue and long-term client relationships, Mortice continues to have a strong pipeline across all parts of the business and continues to build on the momentum achieved during the period.



Commenting, Manjit Rajain, Executive Chairman of Mortice, said: "I am delighted by the Company's strong performance during the period. We are creating a global footprint and remain extremely excited by the growth prospects across all parts of the business."

[sammy_smith] 18/12/2012 15:16

Manjit Rajain, Executive Chairman
We are pleased to announce our third successive set of healthy interim half year profit profits. We have controlled our costs and have been able to achieve stable business growth in both Guarding and Integrated Facility Management services, despite more difficult market conditions.

Click the link below to listen: