Morse trading update signals recovery

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Morse trading update signals recovery

Microscope contributor

The turnaround plan at Morse continues as its classic technology and services division gained momentum in spite of the slow to recover economy.

The position that the reseller-come-integrator finds itself in today when unveiling a trading update for the six months ended 31 December is markedly different to a year ago when it was losing money and restructuring.

In the statement, Morse said it expects to report an operating profit for the period of around £3.6m compared up from £1m a year ago and that revenues will be marginally more than the £104.4m posted in H2 2009.

"In light of the economic environment, we are pleased with the progress made in our Infrastructure Services and Technology business units in growing revenues and adjusted EBIT," said Morse boss Mike Phillips.

The Business Application Services (BAS) unit has been dramatically hit by the downturn but even before that was suffering due to the group's previous sales structure which was supposed to improve cross selling but created confusion.

Phillips added, "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."

 

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