Morse said today that its new structure of two divisions - one for mobile services and one for its traditional consultancy business - is working well.

The company told the London Stock Exchange that trading is in line with expectations.

Morse chairman Richard Lapthorne said: "In our preliminary results of 30 August 2006 we announced that the group would now operate through its two distinct and separate businesses of Morse and Monitise, with a holding company structure in place to oversee their performance. Morse will operate as a single unified advisory and execution professional IT services firm and Monitise would focus on its mobile banking applications and software business."

The firm's next update will be in spring 2007. ®