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Don't have an account? Click here to register.Mortice FY revenues up on acquisitions but pre-tax profits lower
Tue, 30th Aug 2016 12:32
(ShareCast News) - AIM-listed security and facilities management company Mortice said full year pre-tax profits fell to $1.6m from $2.2m reflecting the impact of one-off acquisition costs totalling $0.75m.Revenues rose to $133.5m from $88.4m as the firm added 300 clients and took over UK-based property service company O&G for up to £6.3m in cash and shares. It also took a 51% stake in Frontline, a company incorporated in Singapore for a maximum £1.89m in cash.Executive chairmann Manjit Rajain said the acquisitions of O&G and Frontline had boosted growth."We have laid the foundations for continued growth and have a healthy pipeline in place. Furthermore, we are extremely pleased by our growing presence in the UK and the strong performance of O&G," he said."Underpinned by increasing levels of visibility and repeat business, the company is well positioned to further scale up its operations and build on the momentum achieved. We very much look forward to updating the market with further developments in due course."
More News
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
Small caps round-up: Connemara Mining, Circle Oil, Kenetics...
Irish zinc explorer Connemara Mining has intersected additional high grade zinc-lead mineralisation 400m to the southwest of the Stonepark North discovery in Limerick. "The Stonepark discovery in Limerick is getting bigger and better," said chairman John Teeling. Circle Oil is "even more convince
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