26th May 2005 07:00
RPS Group PLC26 May 2005 RPS Group Plc("RPS" or "the Group") Annual General Meeting Statement At today's AGM, the Chairman of RPS will make the following statement. "Group results in the year to date have been in line with the Board'sexpectations. "Development activity in both the public and private sectors in the UK andIreland generally remains at encouraging levels. Major private sector brownfieldredevelopment schemes and the provision of infrastructure continue to supportour core planning and development business. The strategic shortage of new homesin the UK also creates demand for our services. As a result the slowdown in thehousing market has had no material impact on our business, although our retailclients have been notably less active in recent months. "The energy sector is buoyant. Oil and gas exploration activity is being drivento new levels by the high oil price, creating an upsurge in demand forconsultancy services. This has generated high levels of staff utilisation, aswell as a skill shortage which is restricting somewhat the extent to which wecan benefit from these favourable conditions. We should make further significantadvances as the labour market settles. The renewables market in the UK is beingpromoted by government subsidy and we are involved in a significant number ofwind farm schemes both onshore and offshore. The management of nuclear waste inthe UK has recently been restructured under the control of the NuclearDecommissioning Authority; this provides much needed clarity and will creategood long term opportunities. We are uniquely qualified in the UK to advise onthe planning, environmental and safety aspects of a new generation of nuclearpower stations and are well positioned if the government decides to include thisin its energy strategy. "The end of the Ofwat review process has given rise to a number of opportunitiesfor our water business to pitch for new work. Our level of contract wins hasbeen encouraging. Once these new projects are under way the revenues in thisbusiness should increase. As activity in the sector picks up margins should alsoimprove. Following steps we have taken to re-position our Dutch business itsperformance has stabilised. We believe that, despite the continuing flat economyin the Netherlands, we can now move forward and make further improvements. Ourhealth and safety business continues to benefit from attractive marketconditions, driven by regulation and corporate governance concerns. "Staff at all levels in the Group have successfully continued the process ofintegrating the acquisitions made in 2004 into our existing businesses. Theseshould assist the Group generate organic growth. "Further acquisition opportunities are now being examined in all parts of theGroup. In addition, we have recently commenced a review of market opportunitiesin those Eastern European countries which have recently joined the EU. Thecombination of financial support to fund infrastructure development and the needto comply with EU environmental regulations is likely to create favourablecircumstances for us. "The Board remains confident that the performance of the business will continueto improve during the course of the year and that 2005 will produce asatisfactory result." Brook Land 26 May 2005 Enquiries: RPS Group plc Tel : Today 020 7457 2020 Dr Alan Hearne, Chief Executive Thereafter 01235 863206 Gary Young, Finance Director College Hill Tel: 020 7457 2020 Justine Warren Matthew Smallwood RPS is an international consultancy providing advice upon the development ofnatural resources, land and property, the management of the environment and thehealth and safety of people. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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