Management Resource Solutions PLC Trading Update (0106O)
15 August 2017 - 5:19PM
UK Regulatory
TIDMMRS
RNS Number : 0106O
Management Resource Solutions PLC
15 August 2017
Management Resource Solutions plc
EPIC: MRS
15 August 2017
Management Resource Solutions plc
("MRS" or "the Company")
Trading update
The Company provides the following update on trading.
For the financial year ended 30 June 2017, unaudited revenues of
A$52.2m were in line with expectations, however the operating
performance of the business was below expectations. The impact of
the lack of working capital and the resulting cash constraints was
greater than expected at the time of publication of the half year
results on 7 April, and as a result the loss for the financial year
ended 30 June 2017 will be materially higher than market
expectations. The level of one-off exceptional costs (including
impairment costs and provisions) which are still being classified
as part of the audit process, will also be materially higher than
expected.
Cash at 30 June was A$2.0m. The management action taken to
reduce both overheads and operating costs at MRS Services Group has
had a positive impact on current trading.
For further information:
Management Resource Solutions plc
John Zorbas, Chairman +1 (0) 778 938-7631
Nigel Burton, Director +44 7785 234447
Northland Capital Partners Limited +44 (0) 20 3861 6625
(Nominated Adviser and Joint Broker)
Tom Price
Gerry Beaney
Peterhouse Corporate Finance Limited +44 (0)20 7469 0932
(Joint Broker)
Charles Goodfellow
Lucy Williams
This announcement includes inside information as defined in
Article 7 of the Market Abuse Regula􀆟on No. 596/2014
and is disclosed in accordance with the Company's obligations under
Article 17 of those Regulations. On the publication of this
announcement via a Regulatory Information Service ("RIS"), this
information is considered to be in the public domain.
About MRS
Management Resource Solutions plc (MRS), through its
subsidiaries Bachmann Plant Hire and MRS Services Group, offers
plant hire, equipment repair, refurbishment and fabrication, mine
rehabilitation, earthmoving, road construction and other support
services to a wide base of private and public sector clients in
Australia. MRS caters predominately for the mining, civil
engineering, construction and infrastructure industries.
Further information on the Company can be found at
http://www.mrsplc.info
This information is provided by RNS
The company news service from the London Stock Exchange
END
TSTOKPDDOBKKFFD
(END) Dow Jones Newswires
August 15, 2017 03:19 ET (07:19 GMT)
Management Resource Solu... (LSE:MRS)
Historical Stock Chart
From Apr 2024 to May 2024
Management Resource Solu... (LSE:MRS)
Historical Stock Chart
From May 2023 to May 2024