Morson issues warning on full-year figures

TECHNICAL recruitment group Morson has warned that its full-year figures could come in below expectations.

The Manchester business, which is celebrating its 40th year, said its final results would be hit if tougher second quarter conditions persisted.

In a trading statement for the six months to June 30 the group said its higher margin temporary recruitment work was most affected, particularly in June.

The group added: “Also, whilst new contract wins have been achieved it is normal for new contract awards to take time to develop and implementation costs are expected to have an impact on margin in the current financial year.”

But it said the overall performance for the first-half was on target and insisted that the long-term outlook remained positive.

“The group has invested in and is well positioned to gain from a number of new contract wins and renewals that will commence during the second half of the current year and develop in future periods, chiefly in our aerospace and rail markets,” it added.

Morson supplies more than 9,000 white-collar employees to the aerospace, defence, nuclear, oil and gas, rail, telecoms and infrastructure sectors. Customers include Caterpillar, McLaren, NG Bailey, Sellafield and Bombardier Aerospace.