Company celebrates first time delivery of more $100 million in revenue
in all quarters of the year.
/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN
TORONTO, May 15, 2013 /CNW/ - Morneau Shepell Inc. (the "Company" or
"Morneau Shepell") (TSX: MSI) told shareholders at its annual meeting
that 2012 was another year of continued growth and the delivery of
shareholder value. Held yesterday at the Trump Hotel in Toronto, the
meeting included the election of the board of directors and
presentations by Executive Chairman Bill Morneau, President and Chief
Executive Officer Alan Torrie, and Chief Financial Officer Scott
"In 2012, we generated record revenue of $419.3 million, a healthy 15
per cent increase from the $365 million generated in 2011," said
President and Chief Executive Officer Alan Torrie. "For the first time
in our history we delivered more than $100 million of revenue in each
and every quarter. "
"At Morneau Shepell, we have the bench strength to meet both the
employees' and the employers' needs," added Mr. Torrie. "The result,
for our clients, is the opportunity for reduced costs, increased
employee engagement and an improvement in the competitiveness of their
organization. We offer a comprehensive suite of services to help
employees and their families with issues in their work, health, and
Executive Chairman Bill Morneau spoke at the meeting of some of the
biggest issues facing employees and employers in Canada such as the
aging of the population and pensions. "We see a continuing challenge in
the financial risk of defined benefit pension plans for organizations,"
Mr. Morneau said. "We see change coming. We helped the Province of New
Brunswick come up with Shared Risk Pension Plans that reapportion the
risk of defined benefit pension plans. We expect to see more
initiatives across Canada to manage the allocation of pension risk
between employers and employees."
Mr. Morneau added, "The overall usage of our Employee and Family
Assistance Program among our clients' employees continues to increase.
In 2012, we had 14 per cent more people coming to us for counselling
services related to stress than we did in 2011. We handled over 80,000
mental health cases in 2012. Importantly, we had a 62 per cent increase
in people coming to us for depression care help in the past two years."
Alan Torrie also commented on the Company's performance in the first
quarter of 2013. "We are seeing positive momentum in this regard in the
first quarter," he said. "Our pipeline is robust and we expect our
client-focused, disciplined approach to continue to reap rewards going
Shareholders voted overwhelmingly in support of the re-election of all
of the directors. Results, as a percentage of all votes cast, are as
Robert Chisholm: 99.7%
Jill Denham: 99.7 %
Diane MacDiarmid: 99.4%
Jack Mintz: 99.0%
W.F. (Frank) Morneau Sr.: 98.8%
Bill Morneau: 98.3%
John Rogers: 89.3%
Alan Torrie: 99.1 %
KPMG LLP was reappointed as the auditors of the Company.
About Morneau Shepell Inc.
Morneau Shepell is the largest company in Canada offering human
resources consulting and outsourcing services. The Company is the
leading provider of Employee and Family Assistance Programs, as well as
the largest administrator of pension and benefits plans in Canada.
Through health and productivity, administrative, and retirement
solutions, Morneau Shepell helps clients reduce costs, increase
employee productivity, and improve their competitive position.
Established in 1966, Morneau Shepell serves more than 8,000 clients,
ranging from small businesses to some of the largest corporations and
associations in North America. With approximately 3,000 employees in
offices across North America, Morneau Shepell provides services to
organizations across Canada, in the United States, and around the
globe. Morneau Shepell is a publicly-traded company on the Toronto
Stock Exchange (TSX: MSI). For more information, visit morneaushepell.com.
This news release contains "forward-looking statements" within the
meaning of applicable securities laws, such as statements concerning
anticipated future events, results, circumstances, performance or
expectations that are not historical facts. Use of words such as "may",
"will", "expect", "believe", or other words of similar effect may
indicate a "forward-looking" statement. These statements are not
guarantees of future performance and are subject to numerous risks and
uncertainties, including those described in the Company's publicly
filed documents (available on SEDAR at www.sedar.com) and in the firm's
MD&A under the heading "Risks and Uncertainties". Those risks and
uncertainties include ability to maintain profitability and manage
growth, reliance on information systems and technology, reputational
risk, dependence on key clients, reliance on key professionals and
economic conditions. Many of these risks and uncertainties can affect
the firm's actual results and could cause the Company's actual results
to differ materially from those expressed or implied in any
forward-looking statement made by the Company or on the firm's behalf.
Given these risks and uncertainties, investors should not place undue
reliance on forward-looking statements as a prediction of actual
results. All forward-looking statements in this news release are
qualified by these cautionary statements. These statements are made as
of the date of this news release and, except as required by applicable
law, the Company undertakes no obligation to publicly update or revise
any forward-looking statement, whether as a result of new information,
future events or otherwise. Additionally, the Company undertakes no
obligation to comment on analyses, expectations or statements made by
third parties in respect of the Company, its financial or operating
results or its securities.
SOURCE: Morneau Shepell Ltd.
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