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UK — Morson group founder confident in spite of challenging market

24 May 2010

Morson Group (MRN:LSE) Chairman and Founder Gerry Mason has said that trading conditions in the technical recruitment market remain "challenging", but added that the firm is managing to trade in line with directors' expectations, Crain's Manchester Business reports.

Mason will tell shareholders at the firm's annual general meeting this morning that the firm will "continue to seek growth opportunities and will make selective investments where they will add value for shareholders", but added that the current trading climate continues to be difficult.


"Any upturn is still hard to predict, however we believe that we are well placed to benefit from any future improvement," said Mason.

Morson Group provides technical staff to the aerospace, defence, oil and gas, rail and power industries.

Mason said "our business model is strong and we have excellent visibility of earnings, driven by the requirements of major key UK infrastructure expenditure including nuclear "new build and decommissioning activity, maintenance programmes and wider International opportunities."
 
"We retain a strong order book, coupled with a robust balance sheet."

 

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