FINANCIALS: Morson profits in year of privatisation
9 July 2013
Sales were up 14% on the year and profit before tax rose 21% at technical recruiter Morson in the year its parent company was acquired and went private, a transaction that formally took place last August.
Tue, 9 Jul 2013Sales were up 14% on the year and profit before tax rose 21% at technical recruiter Morson in the year its parent company was acquired and went private, a transaction that formally took place last August.
Accounts filed at Companies House show sales of £459m in the year to 31 December 2012, up from £402.1m in the year 2011, leading to gross profit of £28.1m, up 12% on last year and operating profit of £6.9m, a 40% leap.
A significantly larger tax bill slightly muted post-tax profit growth, which at £2.9m was 8% higher than 2011.
The firm’s ratio of turnover by region remained almost identical year-on-year although slightly more, with 96% generated in the UK, 1% in the rest of Europe and 3% in the rest of the world.
Accounts filed at Companies House show sales of £459m in the year to 31 December 2012, up from £402.1m in the year 2011, leading to gross profit of £28.1m, up 12% on last year and operating profit of £6.9m, a 40% leap.
A significantly larger tax bill slightly muted post-tax profit growth, which at £2.9m was 8% higher than 2011.
The firm’s ratio of turnover by region remained almost identical year-on-year although slightly more, with 96% generated in the UK, 1% in the rest of Europe and 3% in the rest of the world.
