Management Resource Solutions PLC Trading update and integration update (2149F)
July 26 2016 - 2:01AM
UK Regulatory
TIDMMRS
RNS Number : 2149F
Management Resource Solutions PLC
26 July 2016
26 July 2016
Management Resource Solutions PLC
("MRS" or the "Company")
Trading update and integration update
MRS, the human capital resource consultancy, is pleased to
provide a trading update after the acquisition of Bachmann Plant
Hire Pty Ltd ("BPH"), which took place at 1 February 2016.
Trading for the group since completion of the acquisition is
ahead of our expectations and net margins remain strong. It is
anticipated that the Company will report its audited results for
the year ended 30 June 2016 by the end-of November.
The Lyondell Basel Poly Plant Refinery contract announced on 26
May continues as planned although we await the necessary
construction certificates from the local council.
As part of the integration of BPH into the MRS group, MRS has
implemented a new phone application-based software system that
drives efficiency of the workforce: managing the scheduling of
workers, enabling safety processes to be conducted online and
tracking hours worked. This implementation is a timesaving device
which it is hoped will reduce the current process from days to
hours and allows for electronic sign off by our clients.
MRS is also in the process of implementing an Integrated Health,
Safety, Quality & Environmental system throughout the group to
include BPH under the MRS group ISO 9001 accreditation.
We continue to grow the pipeline of opportunities for the
business through a focus on a targeted, systematic approach to
tendering, which is already showing signs of creating additional
opportunities.
We look forward to updating the market when our audited
financial results are available.
Paul Morffew, CEO of the MRS said:
"We have begun to see the beneficial impact of the synergies as
we integrate BPH into the MRS group, driving efficiency and
utilisation of the expanded workforce and equipment. I am confident
as we move into the new financial year that these will continue to
improve our overall performance as a growing and integrated
business.
We continue to pursue our strategy of both organic growth and
through acquisitions. We are actively looking at potential targets,
which, like Bachmann Plant hire would be expected to be immediately
earnings enhancing and complementary to our offering. We continue
to prioritise increasing shareholder value and maintaining earnings
growth."
-Ends-
For further information:
Management Resource Solutions PLC c/o FTI +44 (0)20 3727
1000
Paul Morffew, Chief Executive
Timothy Jones, Finance Director
Northland Capital Partners Limited +44 (0)203 861 6625
(Nominated Adviser and Joint Broker)
William Vandyk
David Hignell
Peterhouse Corporate Finance Limited +44 (0)20 7469 0932
(Joint Broker)
Charles Goodfellow
Lucy Williams
FTI Consulting +44 (0)20 3727 1000
Edward Westropp
Adam Cubbage
About MRS
MRS provides project, quality, environmental and health &
safety management services to some of the largest companies and
projects across Australia, Oceania and Southeast Asia. MRS is a
sector specialist in the construction, engineering, civil
engineering, petrochemical and coal seam gas sectors. MRS sources
its contractors from a database of over 23,000 professionals around
the globe, allowing it to react quickly and fully to client
requirements.
The Company's Admission Document can be found at
http://www.mrsplc.net/.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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