19 October 2017
visit www.response.ncr.com

Morse seeks succour from services

15 January 2003  |  2567 views  |  0 Morse seeks succour from services

UK technology integrator Morse is reporting a half-year slowdown in sales, partially offset by a 12% increase in service revenues and higher gross margins.

Sales for the most recent quarter, ending 31 December 2002, were £92 million (2001: £115 million) resulting in H1 sales of £185 million (2001: £226 million).

Services revenues in Q2 were £32 million (2001: £28 million) resulting in sales for the half year of £57 million (2001: £51 million), representing 12% growth. Service revenues now account for 31% of total earnings at Morse.

Infrastructure revenues for Q2 decreased to £60 million (2001: £87 million) resulting in half year infrastructure sales of £128 million (2001: £175 million).

Shares in the company have climbed 13% on the promise of higher gross margins leading to operating profits before goodwill amortisation for the six months to December 31 2002 of approximately £6 million. This is before restructuring costs of £1 million, arising predominantly in Germany.

Duncan McIntyre, chief executive, comments: "The infrastructure business remains well placed to benefit from any increased activity from the current low level in the financial and telecommunications markets, albeit that we don't anticipate an improvement in these sectors in the near future. Meanwhile we continue to be very focused on managing costs and on cash."

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.fivedegrees.nlvisit www.vasco.comvisit www.innotribe.com

Top topics

Most viewed Most shared
Ripple looks to drive bank adoption with $300m XRP rebate programmeRipple looks to drive bank adoption with $...
15518 views comments | 12 tweets | 4 linkedin
Swift positive on blockchain, but big challenges remainSwift positive on blockchain, but big chal...
8710 views comments | 16 tweets | 22 linkedin
hands typing furiouslyHow artificial intelligence can deliver a...
8349 views 0 | 8 tweets | 9 linkedin
satelliteGates Foundation backs Ripple collaboratio...
7794 views comments | 13 tweets | 10 linkedin
IBM uses blockchain to improve cross-border payments processingIBM uses blockchain to improve cross-borde...
6962 views comments | 9 tweets | 17 linkedin

Featured job

Competitive base, commission, benefits
London, UK

Find your next job