Morson hails profits surge

MORSON, the privately-owned technical recruitment and engineering group, has reported “strong” results for 2014 with profits surging 22% to £16.3m.

The company, based in Salford, said it had benefited from increased spend on infrastructure and as a result, trading during the year “exceeded expectations across most key service offerings”.

Revenue rose 8.1% to £706.1m amid strong demand for white and blue collar workers in the aerospace, IT, rail and marine sectors.

The group said 2014 was also notable for its successful  integration of Vital Human Resources, following the acquisition in November 2013.

Morson Group chief executive Ged Mason, whose father Gerry founded the business in 1969, said: “Our businesses have performed well. We have supported and invested in the service delivery over recent years and the resilience and ability to gain from market improvement this offers us is significant.”

Non-Executive chairman, Kevin Philbin,  added: “I am pleased to report that 2014 was a good year for Morson Group; 2015 presents challenges, however we expect engineering talent to be in demand and that our core markets will attract major investments in infrastructure over the coming years, generating significant opportunities.”

Reflecting strong demand for labour, Morson’s average contractor numbers engaged rose by 1,000 to 13,500.