STTCOMP MSG, TA Long Market Cap: $8.67m Share Price: $0.043...

STTCOMP MSG, TA Long

Market Cap: $8.67m
Share Price: $0.043
Shares: 41.61 Million


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MCS Services Limited is a Company listed on the Australian Securities Exchange (ASX: MSG).

The Company is one of the largest fully integrated security providers in Western Australia, employing over 500 operational staff and supervisors. MCS Services specialises in asset security at government offices and facilities, major commercial property sites, retail shopping centres, sports stadiums, construction sites, ancillary sites and major outdoor events throughout Western Australia.

SECTOR OUTLOOK
Management remains confident regarding the local Perth market’s ability to provide growth to the Company’s revenues. The Company has identified multiple key contract tenders in Government, Healthcare, Retail, Mining and Construction that it is awaiting release of documents of and has several upcoming meetings with Healthcare representatives and a major Educational Institution.

Furthermore, the national market also presents large growth opportunities and the Company has been approached by multiple national retailers and property groups requesting MCS Services tenders on contracts located in NSW, QLD, VIC and NT

FINANCIAL PERFORMANCE
The Company generated customer receipts of $5.17million during the Period (the 3 months ending 31 March 2016 was $4.80 million). At the end of the Period, $1.92million (the 3 months ending 31 March 2016 was $2.23million) had been invoiced but not yet received.

During the Period, the Company paid $3.83million (the 3 months ending 31 March 2016 was $3.34million) in staff costs, predominantly the costs of security guards including superannuation. Working capital costs of $0.13 million (the 3 months ending 31 March 2016 was $0.54million) were paid in the Period included insurance and general administration costs.
Cash and net receivables at 30 June 2016totaled $2.18million (the 3 months ending31 March 2016was$1.89m) comprising of cash of
$1.07million (the 3 months ending31 March 2016was$0.39 million)
And net receivables of $1.10million (the 3 months ending 31 March 2016
was $1.50million).