MORSON GROUP PLC (‘Morson' or the ‘Group')

Preliminary results for the year ended 31 December 2007
Morson (aim: mrn.l) the UK's leading provider of technical contract staffing, supplying over 8,500 highly skilled personnel to the aerospace and defence, nuclear and power and rail industries, is pleased to announce its preliminary results for the year ended 31 December 2007.

Highlights

• strong trading across the group's sectors
• revenues up 20.5% to £394.0m (2006:£326.8m
• group net fee income up 26.0% to £33.7m (2006:26.7m)
• operating profit before amortisation up 19.9% to £12.9m (2006: £10.8m)
• adjusted profit before tax and amortisation increasing from £9.5 million* to £10.8 million, a rise of 13.7%
• profit before tax up 22.9% to £10.1 million (2006: £8.2m)
• basic earnings per share of 15.26 pence (2006: 14.72 pence**)
• four acquisitions during the period
• key contract wins and retentions enhance visibility of earnings
• continuing buoyant market conditions driven by skills shortages
• current trading in line with directors' expectations
• Proposed final dividend of 3.9 pence, bringing the total dividend for the year to 5.8 pence

Gerry Mason, Non Executive Chairman, said: "The results for 2007 are strong with Morson delivering significant growth in turnover and profitability, yet again demonstrating our ability to perform across economic cycles. Key contract wins and renewals secured throughout 2007 provide a platform for future growth and improved visibility. Morson's outlook for 2008 is positive with the board forecasting continued sustainable growth".

* 2006 profit before tax of £8.3m has been adjusted by adding bank and interest finance costs of £1.2m which related to the corporate structure prior to the flotation. ** 2006 basic earnings per share calculations are affected by the distortion in the weighted average number of shares caused by the three month period of 2006 prior to the flotation, calculated on the pro forma basis of the weighted average number of shares used in the 2007 calculation the 2006 figure would be 12.73p

For a full copy of the Morson Group Plc Preliminary Results, please click here 

For further information please contact:

Morson Group plc

Ged Mason, Chief Executive +44(0) 161 707 1516

Paul Gilmour, Finance Director

Buchanan Communications

James Strong / Diane Stewart +44(0) 20 7466 5000

Brewin Dolphin (Nomad)

Matt Davis +44(0) 845 270 8600