rnsitem

http://pdf.reuters.com/Regnews/regnews.asp?i=43059c3bf0e37541&u=urn:newsml:reuters.com:20091007:RnsG3957A
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RNS Number : 3957A  
  
Mortice Limited  
  
07 October 2009  
  
 Press Release                                                                   
                  7 October 2009   
  
MORTICE LIMITED  
  
("Mortice" or "the Company")  
  
Update on Trading and Contract Wins  
  
Mortice Limited, (AIM:MORT), the India based security and facilities management 
company, is pleased to announce that in the four month period since its previous 
trading update on 8 June 2009, the Company has won 38 new contracts across its 
subsidiaries, including Peregrine Guarding Private Limited ("Peregrine"), Tenon 
Property Services Limited ("Tenon") and the recently acquired Rotopower Projects 
Private Limited ("Rotopower"), collectively worth GBP 292,550 (INR 21.79 
million*) per month. In addition, Tenon Project Services, another subsidiary of 
the Company, has been awarded contracts worth a combined value of GBP 203,960 
(INR 15.19 million*) to be delivered over the next few months.   
  
Peregrine   
  
Peregrine, the established security services company, has won 23 new contracts 
for the provision of security services in India, illustrating its ability to 
deliver high service standards across diverse sectors including hospitality, 
retail, financial services, energy, media and manufacturing, IT/ITES and 
Business Process Outsourcing. Key clients include a major Indian insurance 
company, an international automobile brand, one of India's most high profile 
emerging retail company and two multinational banks.  
  
Tenon   
  
Tenon, the Company's facilities management arm, has been awarded 9 new 
contracts, which include a mix of new customers and new facility management 
contracts from existing clients. These include a leading global investment 
services firm, a life insurance services company, a leading Indian bank and an 
Indian IT services company. The high levels of service provided to Tenon's 
customers has resulted in an increased in business from the existing client 
base, which accounts for 19% of overall growth in Tenon's monthly billing. 
Tenon's proven ability to ensure provision of high standard facilities across 
India including remote locations, has resulted in the award of a contract 
spanning 115 facilities across East India for an insurance company.  
  
Rotopower  
  
The acquisition of Rotopower, a facilities management company based in Delhi, 
was completed on 22 June 2009. In the period under review, Rotopower was awarded 
6 contracts valued at GBP 26,800 (INR 2 million*) per month for delivery of 
technical and other facilities services, several of which are in the telecom 
sector, where Rotopower is one of the leading FM service providers.   
  
Manjit Rajain, Executive Chairman, commented:  
  
"We are delighted that our reputation of providing the highest standards of 
service delivery and our focus on customer satisfaction has delivered strong 
organic growth across the group. We have focused on building a national service 
delivery platform to increase our reach and this has resulted in new, exciting 
contracts with innovative service structures and capability requirements.. In 
addition, we are very pleased with the progress Rotopower has made since our 
acquisition of the company as it cements its position as a leader in the telecom 
sector in particular."   
  
* Exchange rate of 1 GBP = INR 74.50 as at 6 October 2009  
  
For further information please contact:  
  
 
  Mortice Ltd                                                           
  Manjit Rajain, Executive Chairman             Tel: +91 981 800 0011   
  Andrew Barker, Executive Director             Tel: +919818677550      
                                                                        
  Grant Thornton Corporate Finance (NOMAD)                              
  Fiona Owen / Robert Beenstock                 Tel: +44 207 383 5100   
                                                                        
  Seymour Pierce Ltd (Broker)                                           
  Sam Tully / Nandita Sahgal                    Tel: +44 207 107 8000   
                                                                        
  Pelham PR                                                             
  Alex Walters / Francesca Tuckett              Tel : +44 207 337 1500  
  
  
Notes to Editors  
  
Mortice Limited, the India based security and facilities management company 
incorporated in Singapore, listed on AIM in May 2008. It is the holding company 
of Peregrine Guarding Private Limited (Peregrine), Tenon Property Services 
Private Limited (Tenon) and Rotopower Projects Private Limited (together 
referred to as the "Group"), an Indian Facilities Management based in Delhi, 
which was acquired by the Group in June 2009.  
  
Peregrine has been providing security services in India for 14 years, 
establishing a client base of over 450 customers and developing a strong 
pan-India presence providing manned guarding in the process. Peregrine Group had 
opened 51 branches in 23 out of the 28 Indian states and has clients in a range 
of sectors including ITES, manufacturing, pharmaceutical, banking and 
healthcare.   
  
Tenon, the facilities management arm of Mortice, was established to provide 
superior quality FM services to Peregrine client base. Tenon today operates in 
16 Indian states and employs 1200 people serving 30 clients.  
  
Rotopower was established 12 year ago and now employees over 1,600 employees 
servicing over 75 clients across 15 states in India. It provides a range of 
facilities management services that include mechanical and electrical 
maintenance services, annual maintenance contracts and housekeeping services to 
a wide range of customers. Rotopower also provides services to telecom tower 
companies for the maintenance and running of electrical equipment.  
  
 
This information is provided by RNS  
  
The company news service from the London Stock Exchange  
  
  END  
  
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