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By | Team Register 2nd March 2006 12:48

Morse continues services shift

Revs down, profits up

Morse plc saw revenues slip but profits increase in the last six months of 2005, figures released yesterday showed.

Turnover was £187.5m, compared to £194.4m last year (excluding discontinued operations). However, revenue from services, which the company is now focussing on, were up 18 per cent.

Pre-tax profits were £6.1m, up 61 per cent, compared to £3.8m a year ago (excluding discontinued operations.

Morse said the results were evidence of a successful transition from pure reselling towards services, with 52 per cent of turnover and 64 per cent of profit coming from services.®

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