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UK — Morson Group 2009 results expected to be at the bottom end of expectations

21 January 2010
 

Morson Group Plc. (MRN:LSE), the human capital resourcing group, announced today that the results for the year ended 31 December 2009 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 11 million Pounds, which was significantly better than Directors previous estimates.

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.

In early trading Morson's shares were down by -12.66% to 100 Pence.

 

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