News blog
RTC Group
- BY: Andrew Hore |
- POSTED: 26/02/2019 |
Engineering and technical staff provider RTC Group improved revenues and profit last year as all the company’s operations made progress.
Revenues were 22% ahead at £87.8m and pre-tax profit was 58% higher at £1.9m. Net debt was £4.55m at the end of 2018.
The total dividend has been raised by 10% to 3.85p a share.
Blue collar labour provider Ganymede remains the largest profit contributor with a divisional profit of £1.92m, thanks to strong rail demand, while engineering recruitment business ATA contributed £1.65m. The fastest profit growth came from international managed recruitment services provider GSS, where the profit contribution increased from £537,000 to £908,000. The increase in central costs was relatively modest.
The share price increased by 14% to 64p, which means that the historic multiple is just over six.
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