REG - Mortice Limited - Year end trading update <Origin Href="QuoteRef">HRN.L</Origin> <Origin Href="QuoteRef">MORT.L</Origin>

HornbyAnnouncement

16/07/2015 11:29

RNS Number : 4958Q
Mortice Limited
18 June 2015
18 June 2015
Mortice Limited
("Mortice" or the "Group")
Year end trading update
Mortice Limited (AIM: MORT), the AIM listed security and facilities management company, provides the following trading update for the year ended 31 March 2015:
Group turnover is expected to be in-line with current market expectations showing an improvement on the previous year of approximately 20%. Due to increased investment during the year (in sales and marketing, a new Enterprise Resource Planning system, the creation of a new command centre in Gurgaon and the start-up of operations in Sri Lanka), as well the impact of maintaining competitive pricing within the Facility Management Division and the additional costs associated with the strategy of seeking growth beyond the business's organic performance, growth in profits is expected to be lower than current market expectations. EBITDA is now expected to be approximately US$4.2m, an increase of c. 21.8% on the previous year (2014: US$3.45m) and, as a result, Group PBT is expected to be approximately US$2.2m, up c. 19.2% year-on-year.
Mortice intends to publish its preliminary results for the year ended 31 March 2015 by 31 August 2015. 
The financial information contained in this announcement remains subject to review by the Group's auditors as part of the usual year end audit process.
Enquiries:
Mortice Limited
www.morticegroup.com
Manjit Rajain, Executive Chairman
Tel: +91 981 800 0011


Allenby Capital Limited
AIM Nominated Adviser and Broker

Nick Naylor/David Hart/Alex Brearley
Tel: 020 3328 5656


Walbrook PR 
Tel: 020 7933 8780 or mortice@walbrookpr.com
Paul McManus
Mob: 07980 541 893
Sam Allen
Mob: 07884 664 686

This information is provided by RNS
The company news service from the London Stock Exchange
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