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Mortice hires new CFO after rapid first-half growth

Tue, 10th Jan 2017 09:14

(ShareCast News) - Mortice, an AIM listed security and facilities management company, has appointed Sandeep Kumar Gupta group chief financial officer with immediate effect as it continues to grow at a rapid pace.According to interim result released between Christmas and New Year's Eve, group revenues grew by 80% to $91.9m and profit before tax increased by 890% to $3.07m.The group's acquisitions of O&G in the UK and Frontline in Singapore have been fully integrated and have both contributed strongly during the period, with O&G delivering $0.90m of operating profits while Frontline contributed $0.95m."Once again, the group has demonstrated its ability to deliver significant growth through a combination of organic and acquisitive investment. The opportunity in India remains exciting and there is still significant scope for scalability across the group's target markets and cross-selling potential across its client base," said the company's broker, FinnCap in a note on Tuesday.The group also raised £2.3m through a placing of 3.07m shares at 75p per share in December to repay short term debt and help drive future organic growth in existing operations and provide the funds for future acquisitions.New CFO Gupta is a chartered accountant with 24 years post qualification experience and is also a certified treasury manager professional. He has worked with a variety of companies and was most recently group CFO for SU-Kam Power Systems, the largest power solutions company in India.Chairman Manjit Rajain highlighted Gupta's "comprehensive experience in treasury and finance functions".He added: "His expertise will be invaluable in assisting the growth of Mortice Group, particularly in evaluating and undertaking acquisition, investment and strategic opportunities."With the acquisitions now fully bedded in, Rajain said he expects further benefits during the second half with significant scope for new business from a recent framework agreement agreed with London Universities.The share price was flat at 94.50p at 1000 GMT.

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15 Jul 2019 17:46

Mortice Asks Shareholders For Permission To Cancel Shares On AIM

(Alliance News) - Mortice Ltd said Monday cancelling its shares on London's AIM are in the "best interests" of the company's shareholders.Mortice will hold an meeting on 7

27 Sep 2018 14:39

Mortice loses 18pc of UK revenue as it fails to renew major contract

(Sharecast News) - Security and facilities management company Mortice announced on Thursday that its subsidiary Tenon FM lost a competitive bid for its existing UK contract with University College London (UCL).

27 Sep 2018 13:58

Mortice Loses University College of London Contract, 18% Of UK Revenue

LONDON (Alliance News) - Mortice Ltd, a security and facilities management company, said Thursday its unit Tenon FM has lost a competitive bid for its existing contract with University College of

17 Sep 2018 16:08

UK Shareholder Meetings Calendar - Next 7 Days

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23 Aug 2018 14:20

Mortice performs well despite UK challenges

(Sharecast News) - Security and facilities management company Mortice announced its audited results for the year ended 31 March on Thursday, reporting a 21% rise in revenues to $219m.

23 Aug 2018 10:41

Mortice Revenue Rises But Annual Profit Declines On Higher Expenses

LONDON (Alliance News) - Mortice Ltd on Thursday said its profit declined in its most recently ended financial year, hurt by costs associated with an internal restructuring.The security for

1 Aug 2018 14:47

Mortice expects results to be broadly in line with prior year

(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.

1 Aug 2018 11:33

Mortice Shares Fall As It Warns On Annual Profit Decline

LONDON (Alliance News) - Security and facility management firm Mortice Ltd on Wednesday predicted a drop in annual profit as the UK market continues to prove difficult.For the 12 months to

1 May 2018 11:59

Mortice Buys Remaining 49% Frontline Security Stake For GBP1.9 Million (ALLISS)

LONDON (Alliance News) - Security services firm Mortice Ltd said Tuesday it bought the remaining 49% stake in a Singapore security services subsidiary for GBP1.9 million.Mortice acquired in

28 Dec 2016 11:29

Mortice's revenue surges as it gains nearly 260 new clients

(ShareCast News) - AIM-listed facilities manager Mortice's interim revenue surged as it gained nearly 260 clients including Amazon, Samsung, Procter & Gamble and Renault Nissan. Revenue climbed 79% to $91.1m for the six months ended 30 September, compared to last year, while revenue from the Man Gua

17 Oct 2016 09:22

Mortice growth in line with expectations in first half

(ShareCast News) - Mortice Limited, an AIM listed security and facilities management company, is on track to meet its expectations for the first half ended 30 September 2016. The India based firm reported year-on-year revenue growth of over 57%, including the first full contributions from its acquis

30 Aug 2016 12:32

Mortice FY revenues up on acquisitions but pre-tax profits lower

(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 prop

16 May 2016 08:24

Mortice Appoints Indian Tax And Law Experts To Board

4 May 2016 08:06

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MORT.L Share News (MORT)

Mortice hires new CFO after rapid first-half growth

Mortice Asks Shareholders For Permission To Cancel Shares On AIM

Mortice loses 18pc of UK revenue as it fails to renew major contract

Mortice Loses University College of London Contract, 18% Of UK Revenue

UK Shareholder Meetings Calendar - Next 7 Days

Mortice performs well despite UK challenges

Mortice Revenue Rises But Annual Profit Declines On Higher Expenses

Mortice expects results to be broadly in line with prior year

Mortice Shares Fall As It Warns On Annual Profit Decline

Mortice Buys Remaining 49% Frontline Security Stake For GBP1.9 Million (ALLISS)

Mortice's revenue surges as it gains nearly 260 new clients

Mortice growth in line with expectations in first half

Mortice FY revenues up on acquisitions but pre-tax profits lower

Mortice Appoints Indian Tax And Law Experts To Board

Mortice Expects To See Full-Year Revenue Growth Of At Least 40%

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MORT.L Share News (MORT)

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