RPS Group PLC Trading Update (5497D)
01 February 2018 - 6:00PM
UK Regulatory
TIDMRPS
RNS Number : 5497D
RPS Group PLC
01 February 2018
RPS Group plc
("RPS" or "the Group")
Group results for the year ended 31 December 2017
The Group's final results for the year ended 31 December 2017
will be announced on 1 March 2018.
Unaudited results suggest that the Group's trading result for
2017, as measured by PBTA, was approximately GBP54m (2016
GBP50.7m). Profits from each of our segments increased year on year
although Energy profits are lower than we expected.
In light of the lower than expected performance of the Energy
businesses and uncertain longer-term prospects of the oil industry,
the Board has decided to make a goodwill impairment charge of
approximately GBP40m in respect of the Energy businesses.
The Board is committed to revitalising our international oil and
gas businesses and meeting the challenges of a changing
hydrocarbons market and emerging alternatives.
Our conversion of profit into operating cash flow was again
strong. Net bank borrowing at 31 December 2017 was approximately
GBP80.6m (December 2016 GBP83.4m).
RPS will report its 2017 segmental results consistent with the
presentation that was used in 2016 which reported the results of
Energy as a separate segment. The appendix to this announcement
shows the Interim Results for the six months ended 30 June 2017
restated to be consistent with this revised segmentation.
1 February 2018
Enquiries:
RPS Group plc Tel: 01235 863206
John Douglas, Chief Executive
Gary Young, Finance Director
Instinctif Partners Tel: 020 7457 2020
Justine Warren
Matthew Smallwood
The above announcement contains inside information for the
purposes of the Market Abuse Regulation.
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, Australia, Malaysia, New Zealand 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.
Appendix
Segmental Results for the 6 months ended 30
June 2017 as restated
Intersegment External
GBP000s Fees Expenses revenue Revenue
--------------------- --------- ----------- --------------- ---------
BNE - Europe 147,014 20,006 (536) 166,484
BNE - North America 35,221 2,232 (123) 37,330
Energy 33,209 5,835 (686) 38,358
AAP 66,970 5,593 (219) 72,344
Group eliminations (1,359) (205) 1,564 -
Total 281,055 33,461 - 314,516
--------------------- --------- ----------- --------------- ---------
Underlying Reorganisation Segment
GBP000s profit costs profit
--------------------- --------- ----------- --------------- ---------
BNE - Europe 19,517 - 19,517
BNE - North America 4,411 (109) 4,302
Energy 2,998 (236) 2,762
AAP 8,302 (349) 7,953
Total 35,228 (694) 34,534
--------------------- --------- ----------- --------------- ---------
Segmental Results for the 6 months ended 30
June 2017 as originally presented
Intersegment External
GBP000s Fees Expenses revenue Revenue
--------------------- --------- ----------- --------------- ---------
Europe 164,449 23,474 (398) 187,525
North America 50,335 4,509 (197) 54,647
AAP 66,970 5,593 (219) 72,344
Group eliminations (699) (115) 814 -
Total 281,055 33,461 - 314,516
--------------------- --------- ----------- --------------- ---------
Underlying Reorganisation Segment
GBP000s profit costs profit
--------------------- --------- ----------- --------------- ---------
Europe 21,432 (229) 21,203
North America 5,494 (116) 5,378
AAP 8,302 (349) 7,953
Total 35,228 (694) 34,534
--------------------- --------- ----------- --------------- ---------
Detailed reclassification for the 6 months
ended 30 June 2017
Intersegment External
GBP000s Fees Expenses revenue Revenue
--------------------- --------- ----------- --------------- ---------
Europe (17,435) (3,468) (138) (21,041)
North America (15,114) (2,277) 74 (17,317)
Energy 33,209 5,835 (686) 38,358
AAP - - - -
Group eliminations (660) (90) 750 -
Total - - - -
--------------------- --------- ----------- --------------- ---------
Underlying Reorganisation Segment
GBP000s profit costs profit
--------------------- --------- ----------- --------------- ---------
Europe (1,915) 229 (1,686)
North America (1,083) 7 (1,076)
Energy 2,998 (236) 2,762
AAP - - -
Total - - -
--------------------- --------- ----------- --------------- ---------
This information is provided by RNS
The company news service from the London Stock Exchange
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