Morson Group powers ahead

MANPOWER firm Morson Group has defied the economic downturn to post record profits on the back of major new contracts.

The Eccles-based company, which supplies  more than 9,000 skilled white collar workers to the aerospace, defence, nuclear, power, rail and other technical industries, said profits before tax, exceptional  items and amortisation were up 6.7 per cent to £5.7m, while turnover rose 9.3 per cent to £212m in the six months to June 30.

Morson Group, which earlier this year said it had a £30m war chest for acquisitions both in the UK and around the world, has also won a number of key contracts with international names including Caterpillar, Ericsson, McLaren and Nokia Siemens.

The company said trading continued to be robust, and its wide spread of sectors as well as major contract wins put the company in a strong position to weather any economic storm.

Gerry Mason, non-executive chairman at Morson Group said: “It is pleasing to report growth through this challenging economic period in both turnover and profitability.

“Morson has delivered continued improved results over its 39 year history, regardless of the broader economic cycle. The resilience of Morson’s business model is underscored by these strong first half results and the board’s confidence regarding future trading.”

Morson Group proposed a 5.3 per cent rise in its interim dividend to 2p per share.