Morse soars on financial sector IT sales

Morse soars on financial sector IT sales

Shares in UK technology integrator Morse have moved to a new yearly high after the company issued a quarterly sales performance update confirming a number of large financial sector infrastructure deals.

The firms says sales for the quarter to 31 December 2003 were £114 million (2002: £92 million) resulting in half-yearly sales foof £187 million (2002: £185 million).

The firm, which has experienced a steady rise in its share price this year on the back of financial sector IT sales rumours, says a particular characteristic of Q2 was "the number of large infrastructure deals, especially in the financial services sector".

Duncan McIntyre, chief executive, comments: "We are pleased with the increased level of activity, particularly in our financial services business."

Shares in Morse rose to 181 pence by mid-morning, up from the previous close and yearly high of 175.5 pence.

The company will report a full set of interim results on 25 February.

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