Management Resource Solutions PLC Half Year Trading Update and Full Year Guidance (3724N)
January 17 2019 - 3:30AM
UK Regulatory
TIDMMRS
RNS Number : 3724N
Management Resource Solutions PLC
17 January 2019
17 January 2019
Management Resource Solutions plc
("MRS PLC" or the "Company" or the "Group")
Half Year Trading Update and Full Year Guidance
Management Resource Solutions PLC (AIM: MRS), a leading
Maintenance, Fabrication, Civil and Earthworks company, provides
the following trading update for the six months ended 31 December
2018 and guidance for the full year to 30 June 2019 ("FY19").
The Group is pleased to report that it is trading in line with
the Board's expectations for the current financial year. As a
result, the Board expects to report Net Revenue for FY19 in the
range of AUD$73.0m - $75.0m (FY18: AUD$69.1m) and EBITDA in the
range of AUD$12.0m - $14m (FY18: AUD$12.3m). FY19 Net Profit before
Tax is expected to be in the range of AUD$8.0m - $AUD9.0m (FY18:
AUD$6.0m), which will generate an EPS of approximately 4.5c - 5.1c
per share (converting to 2.6p / 3.0p per share at an AUD/GBP
exchange rate of 1.7).
The Group's performance in the first six months of the financial
year has been driven by strong demand for MRS' services in the
resources and construction markets in Australia, continued
investment in core profitable assets and rigorous cost management.
There has also been a strong focus on growing operations in new
markets with higher margins. The restructuring, review of assets
and depreciation, and maximising of internal synergies will
continue through FY19.
Management continues to work towards completion of the debt
restructuring. This is progressing well and a further announcement
will be made in due course. This will ensure MRS has the most
efficient interest rates available and should contribute
significantly to the strong FY19 profit performance.
The Group will announce Interim Results for the six months ended
31 December 2018 on 28 February 2019.
Paul Brenton, Chief Executive Officer of Management Resource
Solutions PLC, commented:
"Significant work was undertaken through FY18 to enable
management to focus on the core operations of Fabrication,
Mechanical and Civil & Earthworks. This has provided the
foundations for a stronger FY19, as evidenced by the forecasts that
we have outlined for the year. The first six months of FY19 was a
period of continued progress for the Group and the Board is
confident that the mining focused business, MRS Services Group, is
well placed to benefit from opportunities that are being presented
from Australia's increasingly strong resource sector."
For further information:
Management Resource Solutions plc via FTI Consulting
John Zorbas, Chairman Tel: +44 (0) 20 3727
Paul Brenton, CEO 1000
Tim Jones, Finance Director
Northland Capital Partners Limited Tel: +44 (0) 20 3861
(NOMAD & Broker) 6625
David Hignell
Gary Beaney
Jamie Spotswood
Peterhouse Corporate Finance Limited Tel: +44 (0) 20 7469
(Joint Broker) 0932
Charles Goodfellow
Lucy Williams
FTI Consulting (Financial PR) Tel: +44 (0) 20 3727
Alex Beagley 1000
James Styles
Laura Saraby
This announcement includes inside information as defined in
Article 7 of the Market Abuse Regula􀆟on No. 596/2014
and is disclosed in accordance with the Company's obligations under
Article 17 of those Regulations. On the publication of this
announcement via a Regulatory Information Service ("RIS"), this
information is considered to be in the public domain.
About MRS
Management Resource Solutions plc (MRS), through its
subsidiaries Bachmann Plant Hire and MRS Services Group, offers
plant hire, equipment repair, refurbishment and fabrication, mine
rehabilitation, earthmoving, road construction and other support
services to a wide base of private and public sector clients in
Australia. MRS caters predominately for the mining, civil
engineering, construction and infrastructure industries.
Further information on the Company can be found at
http://www.mrsplc.info
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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