Last checked at 5 Aug 2010 12:03
FOR IMMEDIATE RELEASE
5 August 2010
Managed Support Services plc
("MSS" or the "Group")
AGM STATEMENT
All resolutions proposed at today's Annual General Meeting of MSS were duly passed.
The Company issued the following statement:
"The Board is pleased to confirm that MSS has delivered month on month profitability throughout the first quarter. This is a considerable achievement given the prior year losses and the integration challenges arising from the acquisitions made in late 2009 and early 2010.
It is anticipated that the results for the second quarter will show continued progress.
The Group has now been able to develop a pipeline of customer opportunities and the Board is hopeful that these opportunities will deliver the growth planned for the second half.
The Group is now benefiting from an experienced and extensive management team, many of whom have previously successfully managed rapid organic growth within the specialist Building Services market. This team has also created a stable operating platform from which to manage further organic growth.
As a result, the Board is now actively examining the potential for further add on acquisitions which, if executed, would be expected to increase net earnings substantially given the potential for cost savings and the consolidation opportunities available in the Group's markets".
FOR FURTHER INFORMATION, PLEASE CONTACT:
| Managed Support Services plc: |
|
| Simon Beart, Chief Executive Piers Wilson, Finance Director | 07710 444370 01483 735703 |
| Cenkos Securities plc: |
|
| Nick Wells | 020 7397 8900 |
| Stephen Keys |
|
| Buchanan Communications: |
|
| Richard Darby | 020 7466 5000 |
| Nicola Cronk |
|
Notes to editors
Managed Support Services plc is one of the UK's leading suppliers of compliance and technical building services. The Company provides compliance services, fabric and building maintenance, and ongoing servicing of commercial properties. MSS operates in a range of diverse markets with clients managing commercial property, hotels and retail buildings. Further information is obtainable from www.mssplc.com.