We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Mortice Limited | LSE:MORT | London | Ordinary Share | SG9999005326 | ORD NPV (DI) |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 14.00 | 13.00 | 15.00 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMMORT
RNS Number : 3873W
Mortice Limited
01 August 2018
Mortice Limited
("Mortice" or the "Company")
Trading Update
Mortice Limited (AIM: MORT), the AIM listed security and facilities management company, provides the following trading update for the 12 months ended 31 March 2018.
Revenue increased by approximately 21% to US$219m (2017: US$181m) and Adj EBITDA is expected to be US$9.5m (2017: US$9.6m). The Indian market has continued to grow strongly, however the UK market has been more difficult which has adversely affected the cost of supplying contracts.
Financial Results Highlights
-- Revenues up 21% to $219m (FY 2017: $181m)
o Security services sales up 20% to $118m (FY 2017: $98.2m)
o Facilities Management revenues up 22% to $101m (FY 2017: $82.5m)
o Geographical revenue mix :
-- India 64% (FY 2017: 64%)
-- UK 31% (FY 2017: 31%)
-- Singapore 5% (FY 2017: 5%)
-- Adjusted EBITDA, broadly in line with prior year, of $9.5m (FY 2017: $9.6m) -- Adjusted PBT down 15.6% to $3.9 m (FY 2017: $4.6m) -- Adjusted PAT broadly in line with the prior year of $2.7m (FY 2017: $2.7m)
-- Net debt of $18.4m (FY 2017: $13.5m). $3.12m debts raised to fund the acquisition of 2.33 million shares from UK vendors.
Operational Highlights
-- New clients added during the period, including: J&K Bank, Bharat Oman Refineries Ltd., HCL Technologies and STT Global in India and Maple Tree, Ripple Bay in the Singapore.
-- More than 90% of income generated from repeat business
-- Cost optimization programme undertaken with Office & General ("O&G") and Frontline Security Pte. Ltd ("Frontline") fully integrated and rebranded under the Tenon FM Brand.
The financial results for the year to 31 March 2018 are expected to be announced in August, 2018.
Enquiries:
Mortice Limited www.morticegroup.com Manjit Rajain, Executive Tel: +91 981 800 0011 Chairman finnCap Ltd Tel: 020 7220 0500 Adrian Hargrave / Carl Holmes / Giles Rolls
About Mortice Limited
Mortice (AIM: MORT), is an AIM listed security and facilities management company, incorporated in Singapore and based in India with additional operations in Singapore and the UK.
Mortice operates under two brands, in India:
-- Peregrine - provision of guarding and security services to a wide range of clients from blue-chip companies, smaller businesses, commercial and private properties, and individuals.
-- Tenon - provision of a full range of facilities management services to corporate occupiers, owners and developers of real estate. Clients include respected blue-chip and home-grown companies. Within the Tenon group of companies Mortice also offers security surveillance services through its subsidiary Soteria and mechanical and engineering services via Rotopower.
The business is growing and profitable and is focused on expanding its geographical footprint and growing through targeted acquisitions, as well as organically.
In 2015, the Company established Tenon UK and through this wholly owned subsidiary acquired UK based Office & General Group Limited, an independent property service company specialising in cleaning and providing support services such as environmental solutions and built fabric maintenance in the UK. In addition, the Company acquired a 51% majority stake in Singapore-based security company Frontline Security Pte. Ltd, and further acquired remaining 49% stake in June, 2018.
Learn more about Mortice through this video interview with Manjit Rajain, Executive Chairman of Mortice:
www.brrmedia.co.uk/broadcasts/57c94e8cd6c09fd74b0ae623/mortice-unlocking-potential
Certain information contained in this announcement would have constituted inside information (as defined by Article 7 of Regulation (EU) No 596/2014) prior to its release as part of this announcement.
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
END
TSTEAKXFDSEPEFF
(END) Dow Jones Newswires
August 01, 2018 02:00 ET (06:00 GMT)
1 Year Mortice Chart |
1 Month Mortice Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions