26th Feb 2015 08:31
LONDON (Alliance News) - Shares in energy consultancy RPS Group PLC rose early Thursday after the company reported a rise in pretax profit in 2014 on the back of higher revenue and fee income and hiked its dividend payout.
RPS shares were up 1.5% to 244.5 pence, one of the best performers in the FTSE 250, after the company said its pretax profit for the year to the end of December was GBP46.3 million, up from GBP43.6 million last year.
Revenue rose to GBP572.1 million from GBP567.6 million in 2013, tracking a rise in fee income to GBP505 million from GBP492.1 million. The group said its energy business grew over the year and managed well against a backdrop of a declining oil price and political turmoil in the Middle East.
The group hiked its dividend on the back of the results, up to 8.47 pence per share from 7.36 pence a year earlier. The payout includes a 4.42 pence final dividend.
"Once again our business model delivered good results, with a number of high quality acquisitions making a significant contribution and positioning us well for 2015. This was achieved despite a number of factors outside our control, notably the strength of sterling, the rapid fall in the oil price and unrest in the Middle East," said RPS Chairman Brook Land.
"We believe our positioning and business model should deliver a successful outcome and further growth in the current year," Land added.
By Sam Unsted; [email protected]; @SamUAtAlliance
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