23rd Apr 2008 07:00
RPS Group PLC23 April 2008 RPS GROUP PLC("RPS" or "the Group") Interim Management Statement RPS experienced strong trading at the end of 2007, in which all three segmentsof the business performed very successfully. The Group has maintained thismomentum into 2008. During the first quarter results substantially exceededthose for the same period in 2007. The high level of demand for energyresources, particularly oil and gas, and the need to progress all types ofdevelopment in a sustainable way remain strong and reliable drivers for thebusiness. In addition, our acquisition strategy has moved forward positively. Sevenacquisitions have been made in the year to date. These had a combined profitstream of about £5.9 million and were purchased for a maximum consideration ofabout £33.5 million. A summary of these is set out below; the full details ofeach transaction have been announced previously. COMPANY SEGMENT COUNTRY HISTORIC HISTORIC ANNUAL MAXIMUM ANNUAL PBT CONSIDERATION REVENUE (£m) (£m) (£m) Kraan Environmental NL 5.3 0.82 4.8 Management RW Gregory P&D UK 12.1 1.48 10.1 WTW Energy UK 3.6 0.3 1.85 OceanFix Energy UK 10.6 1.25 6.5 Koltasz Smith P&D Australia 2.2 0.5 3.0 RBA Energy UK, US, 4.5 0.9 6.0 Australia GeoCet Energy US 2.1 0.6 1.2 Total 40.4 5.85 33.45 The integration of these businesses has begun encouragingly. Our acquisitionpipeline is still healthy and we anticipate completing additional transactionsduring the second half of 2008. Our balance sheet remains strong. In March we increased our bank facility from£70 million to £100 million, and extended it to 2013, in order to support ourcontinuing acquisition strategy. The terms of the facility are broadlyunchanged. At the end of March the Group's net bank debt was £52.2 million. Brook Land, Chairman of RPS, commented: "Strong trading in the first quarter of the year, in combination with theacquisitions we have made in the year to date, give the Board confidence that2008 will be another successful year for RPS. The opportunities available to usfor both organic and acquisitive growth are significant and wide ranging. Wehave a diverse, robust and resilient business and remain confident about ourprospects." 23 April 2008 ENQUIRIES RPS Group plc Tel: 01235 863 206Dr Alan Hearne, Chief ExecutiveGary Young, Group Finance Director College Hill Tel: 020 7457 2020Justine WarrenMatthew 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. We trade in the UK, Ireland, the Netherlands,North America, Australia and South East Asia and undertake projects in manyother parts of the world. The Group is a constituent of both the FTSE 250 andFTSE 4 Good Indices. Forward looking statements This announcement contains certain forward looking statements with respect tothe financial condition, results of operations and businesses of RPS Group PLC.These statements involve risk and uncertainty because they relate to events anddepend upon circumstances that will occur in the future. There are a number offactors that could cause actual results or developments to differ materiallyfrom those expressed or implied by these forward-looking statements. Nothing inthis announcement should be construed as a profit forecast. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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