This is the fresh face of (Worthington Nichols), although the two are similar - there are striking differences - mostly in the reality of Management to their position.

The name-change was needed "...to avoid their earlier guise hampering business ..." ( my words) - although I am not so sure. . . . . however, the website and attitude of Mangement appears to make good sense . . . . . .
. . . . despite a small % fall in sp today - - - - 7.8 / 8.15 pence is about as low as should go! That's Hope!

Expect some "charges" to appear and then let's see what Management can do!

Website: www.managedsupportservicesplc.com

Good luck to
...all who sail in her.

"The Company announces that, with immediate effect, its registered office is now
at the following address: One Crown Square, Church Street East, Woking, Surrey,
GU21 6HR."

Interesting that the swanky new offices in Manchester were not to the management's approval (or was it just that they wanted head Office nearer to their own homes???)

Web site shows Head Office in Wilmslow, this is a change in the registered office which is not too far from their solicitors in Reading.

Ah, yes. Should have thought more about that. Registered Office is normally the accountants or solicitors.

LONDON (Thomson Financial) - "Managed Support Services Plc. reported a pretax loss of 8.91 million pounds for the six-months ended March 31, 2008, on a revenue of 16.44 million pounds, and said four of its units were trading profitably in the year to date.

Comparative figures were not given.

The results reflect losses incurred before the change of management and the further losses arising from the closure of its businesses, the company said.

The company said after funding its restructuring costs in the current year it has a net cash bank balance of 5.2 million pounds as on 17th June.

Chief executive Simon Beart said: 'We have successfully established profitable trading, a considerable result when the group was losing 1 million pounds a month, in cash, only six months ago. We now have a stable platform from which to rebuild shareholder value.'

The company has appointed Piers Wilson as the finance director effective from 1st July . Previously, Wilson was the finance director of ED&F Man Coffee."

not done much research on thsi, but I did attend the AGM and I saw a group of Execs thatr appeared to be looking after the business as best as you could wish.....Obviously time will tell ( Still smarting from buying the Eifell Tower in yr 2000!), - but what came through (to me) was that they were telling it like it was!

They explainied why the Worthington business could not survive (as was), and how they hoped to move forwards.
Their Solicitors are based in Reading, but to date they appear to operate in the North West, nr Wimslow - but DYOR. They also control several subsidery businesses, but this could change.....

So I think Harrycat's post (19 Jn"08), ...sums up my own impressions.....

EDIT(29Oct08)-Big jump today, on results, but still only 10p - still I think this puts some flesh on the Opinion I expreswed after the AGM.
((Particulalrly as this is about the worst time anyone could be trying to rescue a business. It just goes to show how mis-led investors were beforehand...have any collars been felt...or is the FSA too busy rescuing stranded Icelandic Bankers? - - - Grrr.))

LONDON, Oct 29 (Reuters) - Managed Support Services Plc:

* Says first half trading has been good and as a result, the board currently expects that the full year results to comfortably exceed current market forecasts.
Net cash balances at 30 September 2008 improved to 7.9 million, equivalent to 8.8p per share (17 June 2008: 5.2 million as last reported in the EGM statement).

Managed Support Services plc

INTERIM RESULTS FOR THE SIX MONTHS TO 30 SEPTEMBER 2008

Managed Support Services plc announces its Interim Results for the six months ended 30 September 2008.

KEY POINTS
"Strong first half trading

Excellent cash conversion

Net cash balances 7.9 million (as at 18 June 2008: 5.2 million)

Turnover 16.3 million (6 months ended 31 March 2008: 16.4 million)

Adjusted profit before tax 1.1 million* (6 months ended 31 March 2008: loss 5.8 million)

Adjusted earnings per share* 0.94p (6 months ended 31 March 2008: loss 3.5p)"

MoneyAM
"Heating and cooling equipment firm Managed Support Services aims to exploit acquisition opportunities with a 5.7m institutional placing announced today.

The placing at 8p per share will represent 45 per cent of the company's share capital. It is conditional on approval at an EGM on February 26.

MSS says the group has traded profitably and has generated positive operating cash flow in the current financial year.

Chief executive Simon Beart said, 'We have increased our surplus cash balances at a time when cash is becoming increasingly scarce. We will now review a broad portfolio of opportunities as the economic climate worsens. "

MonAM
"It has been announced that Simon Beart, CEO has bought 312,500 shares in the company on the 2nd March 2009 at a price of 8.00p. Simon Beart now holds 812,501 shares representing 0.49% of the shares in issue."

Bet he is sweating on global warming!

I understand SB has done a good job from the smouldering remains of - - - , so if he's hoping to expand the business in these dire times it may indeed be a good move. However, I hope he remembers that Fred the Shread thought he'd struck a fabulous deal with ABN-Amro; but it soon turned into dust, as many suspected at the time....

Sp on the move again. Currently 10p. Hoping it can maintain a solid support level for the future.

Harry time to re-visit this one looking cheap at this level hoping for a hot summer.

I'm in. Have been for a long time, as I took the decision that the new management were looking efficient, backed by a good reputation for getting results. Have averaged down, but looking to make a substantial profit in the medium term, rather than short term quickie.

Harry we agree it is now looking to be a sound business managed by people with a good track record, results due in the next few weeks plenty of cash in he balance sheet.

I have a feeling that when the business is running smoothly & profitably, the management team will sell to one of the other bigger companies & then move on to another challenge. How far down the line that is, remains to be seen.

sp climbing steadily,company made a profit at the interim stage so should make a full year profit when final results are announced shortly. Can see the sp reaching 20p before long.

Time to tuck a few of these away at this price.

Did you mean chuck them away?? looking at the chart....:))

What's the matter with it? The only way is up..............;o)

You got a bucket load then harrycat? :(( lol

Yep, sure have. Might buy some more if they get back down to 8p, but am now trying to actively trade them just in case the whole thing goes down the pan.
My thoery is that if MSS can ride out the bad times successfully then they should be able to make money when things improve. Gonna be a slow grind though, imo. Another year from now, at least.

Approaching 8p time to buy Harry?

Back in Feb'09 these guys were on the acquisition trail. Wonder what happened to that plan?
Don't suppose their next set of figures are going to be too impressive either, so adding now might not be the best idea I have ever had!!
What's your stance h?

Harry relying on the past reputation of the guys that took on this business. Interim statement imminent should come good medium term.

"Managed Support Services plc ("MSS") is pleased to announce that it has acquired the Status Building Services group for a total consideration of 3.7 million in cash, of which 0.7 million is payable in mid 2010. The companies acquired are Status Building Services Ltd, Status Electrical Services Ltd and Status Fire Protection Ltd.

The latest management accounts for the nine months to 30 September 2009 indicate that Status had net assets of approximately 100,000, an annualised turnover of approximately 8 million and profit before tax of approximately 360,000.

Status provides a range of technical building services directly to building owners or to managing agents. Its customer base is primarily located in London and the South East where geographic density enables operational efficiencies. Some 50 per cent. of revenue is contracted maintenance revenues with the balance being additional works and small projects. The services provided by Status are similar to those already offered by the MSS Facilities division and we believe that this will allow the Group to generate efficiencies and improvements in customer service.

Status is being acquired from the current owner/managers who have developed and grown the business over the last 13 years. The vendors will leave the business after a short handover period"

7.25p harry your christmas present has arrived....load up

Business Financial Newswire
"Managed Support Services reported a near-halving of turnover from 16.3m to 7.8m for the six months to September. The company made a pre-tax loss of 2.59m, against a previous profit of 0.73m.

MSS, which maintains and installs heating and cooling equipment, said the fall partly reflected its lack of willingness to accept unprofitable business.

However gross margins fell to 22% from 26.7%, reflecting a rapid deterioration of market conditions, primarily in Project-related activities. A goodwill write-off of 1m related to closure of the Projects division.

Cash flow reflected the acquisition costs of Delrac earlier in the year for 0.6m and the need to fund prior-year provisions and restructuring costs of 0.4m. Net cash balances reduced from a peak of 12m to about 10m. "

i thought they also did air conditioning as well. i guess the smoking ban must have had a severe effect on that part of any business, both the install and in most particular the regularly required maintenance, not sure who got the better deal, a takover at circa 10x pe(before tax?)but from the company titles it seems there is no air conditioning involved,it takes time to turn around so whilst not a holder yet i shall continue to watch the chart.( it dont look too good at moment) and thats an understatement, as always just my opinion and please dyor.
regards
jkd

"MSS is pleased to announce that it has acquired certain assets and contracts from Workplace Engineering Limited ("Workplace Engineering"), a wholly owned subsidiary of Johnson Service Group PLC. These assets and contracts have been acquired with effect from 30 November 2009.

Workplace Engineering provided a range of technical building services primarily to public sector customers across Southern England.

The total consideration payable is 300,000, subject to agreed working capital adjustments. The initial consideration of 200,000, was paid in cash at completion with additional consideration of 100,000 payable upon the confirmation of certain contractual negotiations with customers.

The historic turnover directly related to the assets and contracts the Company has acquired is approximately 2 million of which circa 1million is contracted maintenance."

At last, a bit of movement! 10.75p mid. Vol a bit thin though at 159k.

Buy tip Watshot.

For what reason? Trading bounce?

new successful management team, recovery stock,acquisitions, cash of 10m.

Managed Support Services plc (MSS), the building services and FM solutions
provider, will be exhibiting at this year's Master Investor Show, held at the
Business Design Centre in Islington on 24(th) April. MSS will join more than
100 quoted companies at the event, which attracts over 2,000 high net worth
private investors and industry professionals.

MSS will be showcasing an impressive heritage, providing investors with an
insight into more than 30 years experience developing and implementing tailored
building services and facilities management solutions. The company will
demonstrate how it has brought together the best-in-class across all aspects of
property lifecycle management to create a dynamic business that is dedicated to
challenging traditional boundaries and providing solutions that embrace fresh
and forward thinking.

Simon Beart, Chief Executive at MSS commented: "MSS possesses a long-term
strategy committed to creating a leading integrated FM and building services
business within the UK, which offers considerable opportunities for investors.
We are targeting robust expansion via organic growth and acquisitions that will
enhance our service capability and geographic reach, and ultimately deliver
shareholder value."

re my post no. 31. i'm still watching the chart and still a non holder.fortunately i didnt get drawn into buying into that jan spike.but i'm still watching .
good luck to all you that do hold.
for those that don't then theres plenty of time.dont be suckered in.
forget the buy low and sell high, thats how we get suckered. buy high, and sell higher, is much safer.but only, that is, AFTER the recovery has taken place and is PROVEN to have done so.
it's not easy to do for " buy lowers" and bottom pickers because were scared of missing the boat. so we get suckered and end up being also buy highers and head scratchers. how can that be? because we are all of us seducable to fine talk and can't wait for the Capital events to ACTUALLY happen
all just my opinion as always and please dyor.
sermon over.sorry. LoL
regards and good luck.
jkd

Harrycat, et al . . . . do I get the impression MSS is starting to spend tomorrow's money with today's cash...eh..?

Of course "now" is the Time to snap up well positioned faltering businesses and to make them into a single entity....waiting for the restoration of UK plc.
However, it still needs a regular cash to oil the wheels....

My previous impression is that MSS Execs are unlikely to act without thinking . . . . what do others think?

BFN
*Piers Wilson, Financial Director, bought 73,500 shares in the company on the 22nd April 2010 at a price of 6.80p. The Director now holds 163,500 shares.
*Jamie Reynolds, Director, bought 73,500 shares in the company on the 22nd April 2010 at a price of 6.80p. The Director now holds 205,750 shares.
*Euan McAlpine, Non Executive Director, bought 214,000 shares in the company on the 22nd April 2010 at a price of 6.80p. The Director now holds 314,000 shares.
*Simon Beart, Chief Executive Officer, bought 588,000 shares in the company on the 22nd April 2010 at a price of 6.80p. The Director now holds 1,650,501 shares.

I ignore Dir purchases below 50k, so these you posted in April, amount to av 1k5 which is small beer. Since that time the shares have falled abt -10%, with -5% today.
This doesn't look good. I hope they can snatch some victory from the Do-Do. Not that long ago they were a "hopeful" at 10p - - - previously this was Worthington Nichols whose sp ran away until reality set in.
I just hoppe the Management's Buy,Buy,Buy-policy isn't wrecking shareholder-funds, which were "Battered" to say the least.

".

Managed Support Services plc ("MSS") announces its preliminary results for the year ended 31 March 2010.
KEY HIGHLIGHTS
Group now trading profitably following losses incurred in the year to March 2010
Jamie Reynolds appointed to Main Board
New operational management team
Recent acquisitions performing well
Strong balance sheet
Legacy issues from original Group resolved

StockMarketWire.com
"Managed Support Services said the group was now trading profitably following losses in the year to March 31.

The company, which maintains and installs heating and cooling equipment, reported revenue of 15.3m, down from the previous 26.3m.

It said the decline was a result of a decision during the year to close MSS Projects Ltd and cease accepting long-term projects from non-maintenance customers.

The group achieved a gross margin of 24% for the full year, an improvement on the 22% achieved at the half-year but significantly short of its target.

It believed margins would improve materially in 2010 as the mix of revenue improved.

The results also reflected restructuring of operations following the acquisition of the Status Building Services Group in December.

Adjusted operating loss before exceptionals was 1.68m, against a previous 1.44m profit. The statutory loss was 4.85m, previously a 0.12m profit. "

"and cease accepting long-term projects from non-maintenance customers"
now that seems a reasonable policy/strategy. its the regular "follow ups" at minimum cost and maximum revenue that help keep the bottom line "Up".
i did suggest this may be an issue in an earlier post, so it seems management are also aware and have done something about it.
i am still watching and still waiting to see the proof of the pudding.might be a long wait but in the mean time,
good luck to all holders
regards
jkd

The Company issued the following statement:
"The Board is pleased to confirm that MSS has delivered month on month profitability throughout the first quarter. This is a considerable achievement given the prior year losses and the integration challenges arising from the acquisitions made in late 2009 and early 2010.

It is anticipated that the results for the second quarter will show continued progress.

The Group has now been able to develop a pipeline of customer opportunities and the Board is hopeful that these opportunities will deliver the growth planned for the second half.

The Group is now benefiting from an experienced and extensive management team, many of whom have previously successfully managed rapid organic growth within the specialist Building Services market. This team has also created a stable operating platform from which to manage further organic growth.

As a result, the Board is now actively examining the potential for further add on acquisitions which, if executed, would be expected to increase net earnings substantially given the potential for cost savings and the consolidation opportunities available in the Group's markets".

StockMarketWire.com
"Building services provider Managed Support Services is buying London-based Environmental Control Services from its two founders for 3.2m in cash and shares.

ECS reported turnover of 8.8m for the year ended May with an adjusted operating profit of about 0.4m.

MSS said it was currently generating contracted maintenance revenues of about 3.2m.

To finance the acquisition, MSS has raised 3.1m gross via a placing at 7p per share.

MSS says the deal increases the scale of its building services operations as well as enhancing the group's revenue mix. "

Contract Win
Managed Support Services plc, the technical building and environmental compliance services provider is pleased to announce that it has signed a five year contract for the provision of building services, including the management of complex data centres, with The Co-operative Group. Service provision commences on 1 December 2010.

Planned revenues for the core maintenance services are scheduled to be in excess of 1 million per annum and a range of other services are also expected to be provided.

The Board regards this contract win as an important validation of the Group's investment in creating a competitive services platform nationwide, capable of meeting the complex needs of major corporate customers. The Group continues to pursue similar opportunities.

Trading Update
The results for the half year ended 30 September 2010 are expected to reflect the competitive conditions in some of the Group`s markets. The Board is pleased with progress on sales gains, as illustrated by today's announcement. Today's contract announcement will contribute materially to sales growth in the next financial year.

The Board is also pleased to confirm that the integration of the recently acquired ECS business into the Group is proceeding smoothly and that early trading indications are promising. The Group has very low levels of debt and no material exposure to government related spend.

The results for the half year ended 30 September 2010 will be announced in early December 2010.

StockMarketWire.com
Managed Support Services plc said its turnover increased to 11.2m from 7.8m in the six months to September.

Adjusted operating profit was turned around to 0.5m from a 2009 loss of 0.5m.

Statutory loss for the period was 0.4m, down from 2.5m.

CEO Simon Beart said, 'Our recently announced contract gains and acquisitions have transformed the prospects for the group. We anticipate further market share gains and we look forward to the next financial year with increasing confidence.'

Recent contract gains were announced with the Co-operative Group and Thomas Cook.

Acquisitions of ECS and Data Sound were successfully integrated.

A new software product, Compleye, was launched to improve the electronic interface with Health & Safety customers.

TRADING STATEMENT
In common with other competitors, the Group experienced very weak trading in December and January, notwithstanding that these months traditionally generate low activity. This was exacerbated by some contract losses in the smaller, regional accounts. February has seen some recovery in activity which the Board expects will continue in March. However, it is now clear that the Group's overall result for the year, before exceptional items, will be below market expectations, despite current run rates.

Full year turnover for the current year is expected to be approximately 26-27 million. The annualised run rate of current monthly sales and the visibility of customer revenues confirm the Board's expectations that turnover for the year shortly to commence on 1 April 2011, will be between 35-37 million. The majority of the turnover increase reflects the full year consolidation of ECS. The Board currently anticipates that EBITDA for the year to 31 March 2012 will be some 20% below current market forecasts as a result.

The Board expects operating margins to remain broadly stable for the forthcoming year but the Group has relatively high operational gearing and therefore the Board believes that operating profit is more sensitive to sales levels, rather than small margin movements.

To deliver a satisfactory return for the forthcoming year, further cost reductions are being undertaken and management efficiencies improved, following the departure of the UK Managing Director.

Contract Gain, Trading Update
The Board of MSS is pleased to confirm that terms have been agreed in respect of a substantial contract extension with an existing key customer generating additional contracted, recurring revenues of approximately 700,000 per annum for three years. Delivery is expected to commence in June 2011.

The Group continues to pursue an encouraging range of potential contracts of a similar size and is forecasting to increase the overall value of the contract book modestly this year, net of contract losses.

The results for the year ended 31 March 2011 are expected to be announced in early July. As previously indicated, these results reflect the lower level of discretionary customer spend in the last quarter and the cost of rectifying failures by operational management, which led to a short term reduction in customer service and a consequential write off of Work In Progress. The Board dismissed the relevant senior management for negligible cost and is pleased to report that the upgraded team is performing well.

Trading in the first quarter of this financial year has seen a weak start from the Group units dependent on capital expenditure by customers, coupled with low utilisation rates in April. Visibility and activity levels for the second quarter appear to be improving.

The Group continues to concentrate on the development of recurring revenues from both Building Services and Environmental Compliance to further dilute the Group's exposure to the more volatile, capital related revenues that arise within our customer base.

StockMarketWire.com
Managed Support Services preliminary results for the year ended 31 March 2011 show group turnover increased from 15.3m to 26.6m.

The company reported a return to normalised operating profit - normalised operating profit is stated before restructuring costs, amortisation of intangible assets, Share Based Payments and acquisition related costs. Statutory loss for the period was 1.38m.

Activity levels recovering in second quarter after slow start. The company also pointed to the successful completion of two acquisitions.

Commenting on the results, Simon Beart, Chief Executive said: "We have now assembled a nationwide capacity to deliver Building Services and Environmental Compliance to our growing customer base. We expect further new business gains in due course as the Group continues to gain recognition and profile in its markets."

The Board of MSS is pleased to announce it has today completed the sale of the Group's Compliance Division for an agreed gross consideration payable at completion of 3.85 million.

The Group expects to receive net cash of 3 million following adjustments for working capital and the settlement of inter group balances. The Division has been sold to Capita Symonds, a trading division of The Capita Group Plc.

The services offered by the Compliance Division were the consultancy based provision of Health & Safety advice and the provision of Water Treatment monitoring and legislative compliance with water related legislation. The core of the Division was the Health & Safety unit, with the Water Treatment unit being a start up operation, which commenced in late 2010.

The Health & Safety unit on a stand alone basis reported an adjusted operating profit of approximately 670,000 for the 12 months to 31 March 2011, on turnover of approximately 2.33 million.

The Water Treatment business incurred small losses for the initial trading period to 31 March 2011 on turnover of approximately 400,000, but is now profitable.

The disposal has been undertaken by way of a business and assets transfer. Net assets of the relevant businesses as at completion were approximately a negative balance of 300,000, prior to consideration related adjustments to working capital.

The Division had a headcount of approximately 30 staff, representing some 10 per cent. of the Group's total headcount prior to disposal. The turnover of the Compliance Division was expected to represent approximately 10-12 per cent. of the Group's current year turnover.

The proceeds of the disposal will be used to fund the continued development of the Group's much larger Building Services division.

The Board undertook the disposal because the Group is not of sufficient scale to fund the development of two divisions by acquisition and has therefore elected to concentrate the Group's management and financial resources on the growth of the Building Services division.

Goodnight to a sorry saga, will there be a bone left for shareholders to nibble on?

http://moneyam.uk-wire.com/cgi-bin/articles/201111181819024146S.html

Not necessarily. This board are reasonably adept at finding new opportunities and making the most of them. It looks like they have taken the air con + buildings maintenance part of the company as far as they can. Now with the cash for the transfer of assets, they may be able to find a new direction for MSS. Certainly hope so, as not really much point in any of us long term holders taking the cash now.

StockMarketWire.com
Rentokil Initial has exchanged contracts with Managed Support Services (MSS) for the acquisition of its building services division, MSS Facilities Management for a cash consideration of up to 6.5m (subject to a net asset adjustment at completion). The proposed sale is conditional upon the approval by the Company's shareholders in general meeting.

The Division, which has 200 employees, has an approximate annual turnover of 22 million and operates from two principal trading sites in Manchester and London.

Sold too cheaply maybe?

Result of General Meeting
Further to the announcement of 18 November, MSS confirms that all resolutions were passed at the Company's General Meeting held earlier today. As a result, the Company expects the disposal of MSS Facilities Management Limited (comprising the Building Services Division of the Company) to complete today.

StockMarketWire.com
Managed Support Services says disposals made this year were well-timed.

In its Interim Results for the six months ended 30 September 2011, the company pointed to the sale of Compliance Division for £3 million and the sale of Building Services Division for a headline price of £6.5 million

The company introduced a new Investment Policy adopted following disposal of all trading companies. The Board said it was maximising cash and reducing costs whilst actively pursuing investment opportunities

Commenting on the results, Simon Beart, Chief Executive said: "We believe the disposal of the Group's trading activities was well timed given the worsening trading environment and the very poor outlook for the Building Services sector.

Deferred consideration settlement

The negotiations with Rentokil Initial plc in respect of the final deferred consideration receivable by MSS in respect of the sale of the Group`s Building Services division ("the Division") in December 2011 have now been concluded. The deadline for agreement was 5 March 2012, absent which the parties would have appointed an independent arbitrator.
The Board regarded the process of arbitration as highly uncertain, whilst also incurring further potentially material cost, as well as delay.
The additional net proceeds have fallen far short of the Board`s expectations, primarily as a result of the unforeseen cancellation of one of the Division`s largest maintenance contracts just prior to the relevant deadline of 5 March 2012. This cancellation had the effect of materially reducing by far the most substantial element of the deferred consideration.
The Board will now make the final outstanding payments to the secured loan note holders and immediately thereafter will consult with the Group`s few remaining creditors.
However, in view of the above, the Board regards the equity value of the company to be negligible. Further announcements will be made in due course.

So, that's just the "AIM-Listing" of any value, eh?

Perhaps they should tout around Plus and see if any takers want a leg-up into the Mighty AIM Market...... a kinda Joint venture where MSS keeps out of it.

This is a long way from those happy days with W-Nichols . . . . . Grr.
EDIT: MSS had a bad hand to start with, compliments WM,

CAPITAL REORGANISATION & NAME CHANGE - "The Company has announced the proposal to enter into a Company Voluntary Arrangement, undertake a Capital Reorganisation and to change its name to Kennedy Ventures plc, subject to shareholder approval at the forthcoming General Meeting to be held on 25 May 2012.
Terms: Capital Reorganisation: each existing Ordinary Share of GBP0.01 each will be subdivided into 1 new Ordinary Share of GBP0.0001 and 1 new Deferred Share GBP0.0099. Name change: all securities under managed support services plc will change issuer name to Kennedy Ventures plc. Additional Information: If the CVA is not approved, the Directors believe that the only alternative would be for the Company to be placed into liquidation. For the avoidance of doubt, the CVA would not result in any distribution being made to the Shareholders of the Company"

---so is that another "New Name" after only a few years? - It looks like it . . . What will "Kennedy Ventures" have that eluded MSS, other perhaps than bad contracts, old stock - and a business sector that was on hard times?
I'm guessing we get "new shares" for old; but any new money will be a "welcome dilution"....