Morse detects cost savings - takes £4.5m charge

UK reseller Morse will take a one-off charge of up to £4.5m to slash costs this year, it told the stock market today. Executive chairman Kevin Loosemore said further details of the cuts, which will begin immediately, will be revealed with the firm's preliminary results on 9 September. The cuts follow the departure of CEO Kevin Alcock early this month. A restructuring programme was launched to improve margins. ®