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Morson Group PLC - Trading Update

Morson Group PLC - Trading Update
Morson, the UK's leading provider of technical engineering personnel and project design solutions to the aerospace and defence, nuclear and power and rail industries is pleased to issue the following trading update. The Group expects to announce its interim results for the six months ended 30 June 2010 in the week commencing 20 September 2010.
The trading performance of the Group for the first half of the financial year has been in line with Directors expectations.
Whilst our trading environment has remained challenging and is expected to remain so, the strength of the Morson business model, which has seen the Group through many economic cycles, has resulted in good customer retention and new business wins. Our forward visibility is strong, driven by the requirements of on-going major key UK infrastructure projects.
During the last seven weeks we have completed the acquisitions of the business and assets of both Wynnwith Group Limited and most recently AceTech Personnel Limited. Each of these strategic acquisitions builds on the strength of the Morson brand, further expanding the range of services the Group offers, broadening our blue chip client base and extending our geographic reach. It is early days in the integration of both acquisitions but the initial signs are encouraging and we are confident that they will provide opportunities for increasing our market share.
We continue to evaluate a range of growth opportunities and will make selective investments where we believe they will add value for Morson shareholders. We believe that Morson is well placed to benefit from any upturn in trading conditions.

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