25th Feb 2019 11:04
LONDON (Alliance News) - Shares in RTC Group PLC rose Monday as it reported a double digit rise in profit and revenue for 2018 amid progress in all businesses.
Shares in the engineering and technical recruiter were up 17% at 65.50 pence in morning trade.
For 2018, the company's pretax profit increased by 58% to GBP1.9 million from GBP1.2 million the year before, on revenue that grew by 22% to GBP87.8 million from GBP71.7 million.
RTC said that all of its subsidiary businesses made significant progress in their markets during 2018, with the majority of revenue made in the infrastructure sector.
The ATA business reported a year of growth with increased permanent placements and contracts despite fragile market conditions, while GSS increased its contribution to the group with new business from Afghanistan and the Middle East.
Ganymede, which focuses on infrastructure labour services reported a stable period with good demand from the rail industry and a steady performance in its Energy division despite slower than expected growth from its smart-meter installer contract.
RTC Group proposed a final dividend of 2.55 pence per share, leading to a total payout of 3.85p, up 10% from 3.5p the year before.
Looking ahead, RTC said there was political and economic uncertainty stemming from Brexit, but remained confident for 2019, due to several of its businesses being well insulated from UK volatility due to overseas activity.
"I am delighted to report another successful year of growth for the group with all key financial comparators showing significant progress," said Chief Executive Andy Pendlebury.
"We have also strengthened our balance sheet and I believe our group is in a robust financial position, is making significant progress with its strategic agenda and the board remains highly optimistic about its future," Pendlebury added.
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