Morse continues services shift
Revs down, profits up
Morse plc saw revenues slip but profits increase in the last six months of 2005, figures released yesterday showed.
Turnover was £187.5m, compared to £194.4m last year (excluding discontinued operations). However, revenue from services, which the company is now focussing on, were up 18 per cent.
Pre-tax profits were £6.1m, up 61 per cent, compared to £3.8m a year ago (excluding discontinued operations.
Morse said the results were evidence of a successful transition from pure reselling towards services, with 52 per cent of turnover and 64 per cent of profit coming from services.®