RPS Group PLC Group Results for 2016 (7964V)
02 February 2017 - 6:00PM
UK Regulatory
TIDMRPS
RNS Number : 7964V
RPS Group PLC
02 February 2017
RPS Group plc
("RPS" or "the Group")
Group Results for 2016
The Group's results for 2016 will be announced on 2 March
2017.
Unaudited management accounts indicate that the Group's trading
result for 2016, as measured by PBTA, approached the level of the
2015 audited result. The second half performance in 2016 was
materially better than the first half, having benefited from
improved profitability in Energy, significant currency movements
and a lower level of reorganisation cost.
The Group's 2015 result included a GBP7.0 million provision for
doubtful debts in Energy. Towards the end of 2016 a significant
proportion of the debt provided was recovered, resulting in the
reversal of provisions totalling approximately GBP4.2m. Even
excluding this provision reversal, the Group result was still well
above current market expectations.
The Group's conversion of profit into cash in the year was, once
again, strong. Year end net bank debt reduced to about GBP84
million, from GBP95 million at the end of June. As a result, year
end leverage (net bank debt plus deferred consideration to adjusted
ebitda) reduced to approximately 1.6 times, from 2.2 at the end of
June. The Board anticipates recommending a final dividend per share
which, if approved, would result in an unchanged full year dividend
of 9.74 pence.
2 February 2017
Enquiries:
RPS Group plc Tel: 01235 863206
Dr Alan Hearne, Chief
Executive
Gary Young, Finance Director
Instinctif Partners Tel: 020 7457 2020
Justine Warren
Matthew Smallwood
RPS is an international consultancy providing advice upon the
development and management of the built and natural environment;
the planning and development of strategic infrastructure, and the
evaluation and development of energy, water and other resources. We
have offices in the UK, Ireland, the Netherlands, Norway, the
United States, Canada and Australia Asia Pacific and undertake
projects in many other parts of the world.
This announcement contains certain forward-looking statements
with respect to the financial condition, results of operations and
businesses of RPS Group plc. These statements involve risk and
uncertainty because they relate to events and depend upon
circumstances that will occur in the future. There are a number of
factors that could cause actual results or developments to differ
materially from those expressed or implied by these forward-looking
statements.
This information is provided by RNS
The company news service from the London Stock Exchange
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