(RTTNews) - Tuesday, Morson Group Plc (MRN.L: News ), a technical recruitment agency, reported a rise in profit for first half year ended June 30, reflecting an increase in revenues and lower exceptional costs.

Profit before taxation for the first half year rose 17.8% to £4.88 million from £4.14 million a year earlier. Net profit attributable to shareholders grew to £3.35 million or 7.42 pence per share from £2.47 million or 5.42 pence per share for the same period last year.

On an adjusted basis, profit declined to £3.90 million or 8.64 pence per share from £4.04 million or 8.86 pence per share a year ago. The company had an exceptional head office relocation cost of £110 thousand in the period, much lower than £1.20 million in the same period last year.

Half-yearly revenue of Morson Group increased 3.7% to £219.89 million from £212.00 million in the year-ago period. Net fee income grew 2.2% to £18.1 million from £17.7 million a year earlier.
The company maintained its interim dividend of 2.0 pence per share, which is proposed to be paid on 30 October to shareholders on the register on 2 October. The ex-dividend date will be 30 September.

Gerry Mason, Non-executive Chairman, Morson Group Plc said, "We have won new business with clients in and connected to all our specialist sectors, particularly Nuclear, Rail, Aerospace and Defense and expect to announce further progress over the next twelve months."

MRN is currently trading at 114.99, up 0.87% on LSE.

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by RTT Staff Writer

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