14 Oct 2014 09:33
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MORT.L Share News (MORT)
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Don't have an account? Click here to register.Mortice expects results to be broadly in line with prior year
Wed, 01st Aug 2018 14:47
(Sharecast News) - Security and facilities management company Mortice updated the market on its trading for the 12 months ended 31 March on Wednesday, reporting a 21% improvement in revenue to $219m.The AIM-traded firm said adjusted EBITDA was expected to be $9.5m, slightly lower than the $9.6m reported in the prior year.It said the Indian market had continued to grow "strongly", however the UK market was more difficult, which adversely affected the cost of supplying contracts.Looking more closely at the books, security services sales were up 20% to $118m, while facilities management revenues rose 22% to $101m.Its geographical revenue mix was exactly the same at the prior year, with 64% of revenue coming from India, 31% from the UK, and 5% from Singapore.Its adjusted profit before tax was down 15.6% to $3.9 m, with the board saying its adjusted profit after tax was "broadly in line" with the prior year at $2.7m.Net debt stood at $18.4m, widening from $13.5m a year earlier, with the board noting that $3.12m of debt had been raised to fund the acquisition of 2.33 million shares from UK vendors."New clients [were] added during the period, including J&K Bank, Bharat Oman Refineries, HCL Technologies and STT Global in India and Maple Tree, Ripple Bay in Singapore," the board said in its statement."More than 90% of income [was] generated from repeat business."It said a cost optimisation programme had been undertaken with Office & General, and Frontline Security was now fully integrated and rebranded under the Tenon FM brand."The financial results for the year to 31 March are expected to be announced in August."
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16 Jul 2014 09:44
14 Apr 2014 08:22
Mortice Subsidiary Signs Joint-Venture Agreement With Tanami Holding Co.
LONDON (Alliance News) - Mortice Ltd said Monday its subsidiary, Tenon Property Services Private Limited, has signed a joint venture agreement with Tanami Holding Co., to provide Tenon the opportunity to service clients in the Middle-East. The facilities, property and project management fir
Read more9 Apr 2014 09:42
Mortice Subsidiary Signs Memorandum Of Understanding With Meghalaya Government
LONDON (Alliance News) - Mortice Ltd Wednesday said that its subsidiary Peregrine Guarding Services has signed a memorandum of understanding with the Meghalaya government in India, for the training of candidates in the security and guarding industry, to be deployed across India once qualified.Read more
18 Mar 2014 08:59
Mortice Unit In Sports Infrastructure Partnership Deal With Amsterdam ArenA
LONDON (Alliance News) - Mortice Ltd Tuesday said its Tenon Property Services unit has signed a cooperation agreement with Dutch sports arena specialist Amsterdam ArenA to jointly maintain sports infrastructure projects in India and to advise on training, safety, security and facility management.
Read more20 Dec 2012 09:11
Mortice announces new CEO and CFO
Mortice announced Thursday the appointment of Basil Arun Keelor as Group Chief Executive Officer (CEO) and Vishnu Sultania as Group Chief Financial Officer (CFO). The AIM-listed security and facilities management company said the new CEO and CFO would start immediately. Keelor is an ex-marine eng
Read more8 Aug 2011 08:43
Mortice jumps into profit
AIM listed Mortice leapt into the black, hailing a "truly momentous" year for the firm. The India-focused security and facilities management company posted pre-tax profits of $1.28m for the year to the end of March. This compared to a loss of $0.71m the previous year, as revenues grew by 52%. Man
Read more21 Jun 2010 11:34
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