24th Oct 2019 09:23
(Alliance News) - Consulting services firm RPS Group PLC on Wednesday said third-quarter trading was in line with management expectations and forecasts a small rise in fee income.
For the three months to September 30, RPS expects a 0.7% year-on-year fee income rise to GBP140 million from GBP139 million. At constant currency, fee income is flat at GBP140 million.
Oxfordshire-based RPS said: "The outlook for each of the group's business segments is positive and, while this remains the case, it is set against the backdrop of increasing political and economic uncertainty."
In its UK & Ireland segment, RPS said it performed strongly in Northern Ireland and the Republic of Ireland, though this was partly offset by Brexit uncertainty.
In the Services UK & Netherlands division, which provides services to utilities sector clients, trading was impacted by the approaching end of the current asset management plan cycle, a framework outlined by England and Wales water industry regulator Ofwat. The new AMP7 plan will begin in April 2020.
RPS said market conditions in both Norway and North America were positive, though in the latter, competition for talent recruitment persisted during the quarter.
Chief Executive John Douglas said: "Group trading was in line with management expectations for the quarter. As we enter the final quarter of 2019 we remain conscious of the current economic and political landscape. In the meantime, we continue to progress our strategic priorities and build a strong platform for growth.
Shares in RPS were 2.4% higher at 127.00 pence each in London on Thursday morning.
By Eric Cunha; [email protected]
Copyright 2019 Alliance News Limited. All Rights Reserved.
Related Shares:
RPS.L