Morse signals stability in current year

Morse told its annual meeting today that trading is running in line with expectations. In a statement to the AGM, outgoing chairman Richard Lapthorne said that “stabilization of revenue has continued into the new financial year.” He said that the management has set a target of operating margin of 7.2 per cent, and absolute operating profit of $20m. Lapthorne said the integration of service group Xayce was progressing well.®