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Morson Continues Strong Performance

Morson Continues Strong Performance

Morson, the UK's leading provider of technical engineering personnel and project design solutions, provides the following trading update prior to entering into its closed period ahead of the publication of its preliminary results for the year ended 31 December 2008. The Group intends to announce its preliminary results in the week commencing 30 March 2009.

The Group anticipates that profit before amortisation, exceptional charges and tax for the year to 31 December 2008 will be in line with market expectations. The results for this period will, in accordance with IFRS, include a non-cash exceptional financing cost relating to the Group's hedging arrangements which will amount to approximately 1.6m.

Morson continues to deliver a consistently strong performance year on year. The resilience of the Group's business model arises from its focus on long term framework agreements in a broad spread of sectors. These include aerospace and defence, nuclear and power and rail. These sectors benefit from a variety of growth drivers that stimulate the demand for Morson's services and make Morson less vulnerable to the effects of any one sector.

The Board consider that the outlook for Morson's trading environment continues to be challenging but encouraging despite the current economic climate and remain confident of the Group's ability to deliver further growth in the medium and long term.

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