The Morson Group PLC have announced their Maiden Preliminary results for the year ended 31 December 2006

Morson, the UK's leading provider of Technical Contract Staffing, supplying over 8,000 highly skilled white collar personnel to the Aerospace and Defence, Nuclear and Power and Rail industries, is pleased to announce its Preliminary Results for the year ended 31 December 2006, following its admission to AIM on 30 March 2006.

Highlights

• Turnover up 22.9% to £326.8m (2005: mhl2 £265.9m)
• Operating Profit up 22.5% to £8.7m (2005: mhl2 £7.1m)
• Adjusted profit before taxation up 22.9% to £9.5m (2005: mhl 2£7.7m)
• First full year profit before tax of £6.1m
• Strong trading performance across the group, ahead of expectations
• Completion of acquisition of Bluetec for cash consideration of £2.0m
• Enhances offering to Building and Construction, and Telecoms sector
• Circa 13% increase in annual average numbers of Contractors successfully placed to circa 7,800

Gerry Mason, Non-Executive Chairman, said:

"The Group has started the new financial year strongly with trading across all sectors in line with the Directors' expectations. A significant number of new tenders have been submitted and growth is anticipated to be driven for the Group's services in line with the expansion of major infrastructure projects across the country.

During the financial year, we successfully completed the acquisition of Bluetec for £2.0 million, which represented the first step in the company's strategy to supplement strong organic growth with selective acquisitions and strategic alliances.

As we have moved into 2007 the Group has completed two further acquisitions, on 1 February 2007 that of White and Nunn Holdings Ltd based in Fleet, Hampshire for a consideration of up to £1.2 million and on 23 February 2007, the acquisition of Pentagon Personnel Ltd based in Havant, Hampshire for consideration of up to £2.9 million. These strengthen Morson's presence in this region and compliment our organic growth in line with our strategic policy.

The performance achieved reflects, in particular, the strength of our management team and of our business model, through which we act as a valuable outsourcing partner to our wide range of blue chip customers.

The hard work, dedication and commitment of our management team and all of the support staff during this period of significant change have been key factors in enabling Morson to deliver these strong results. On behalf of the board and the shareholders, I would like to record our appreciation for all their efforts."

For a copy of the Annual Report, please see the Investor Relations page.