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IN BRIEF: RTC reiterates confidence of trading prospects since June

29th Nov 2023 18:29

RTC Group PLC - London-based recruitment company - Says trading since June has continued with the "cautious confidence outlined in the interim report". Says it is therefore still confident of the trading prospects of the group in the current financial year and expects to announce its audited 2023 results on or around March 25, 2024. Chair & Chief Executive Officer Andy Pendlebury says: "Whilst economic conditions in many markets we support remain challenging and are driving fierce competition and revenue concerns across the sector, we continue to drive growth through our strong brand focus, our people, and our attention to excellent service and quality which continues to provide valuable differentiation for us with our clients."

In July, RTC said it swung to profit over the first half on "buoyant" business. For the six months ended June 30, pretax profit was GBP1.0 million, swung from a loss of GBP406,000 year-on-year. Revenue rose 33% to GBP45.6 million from GBP34.4 million the previous year. According to RTC, the key driver of this increase was contract revenue, which increased to GBP43.0 million from GBP32.1 million. This growth predominantly came from the Rail and Energy divisions, reflecting a step change from results in 2022.

Current stock price: 58.00 pence, up 12%

12-month change: More than trebled

By Greg Rosenvinge, Alliance News senior reporter

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