News blog

Mortice Ltd

  • BY: Andrew Hore |
  • POSTED: 02/03/2010 |

Facilities management and services provider Mortice Ltd says that it will make a small loss in the year to March 2010.

The India-based company grew its sales by nearly one-third in local currency in the first half of the year but overall growth for the year is slower than expected. Clients remain cautious about spending during the economic conditions. Bad debts are also a problem.

Revenues are in line with expectation but margins are coming under pressure.

The 2009-10 loss will be lower than the previous year. Revenues are expected to grow next year and margins and profitability should improve.

At 48p a share, Mortice is valued at £22.9m.

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