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UK: RTC Group hits a new high

19 March 2014

RTC Group plc (RTC:LSE), a support services group which predominantly provides recruitment services, today announce its audited results for the year ended 31 December 2013. Revenue was up 14% to £49 million (2012: £43 million). Group operating profit was £871,000 (2012: £592,000). Profit before tax increased +55% to £736,000 (2012: £474,000) but profit for the year attributable to equity holders fell to £512,000 (2012: £575,000). The later reflecting a tax charge of £224,000 (2012: credit £101,000 relating to deferred tax). 

Commenting on the results Bill Douie, Chairman, said: “Our subsidiary companies have all made positive contributions and established solid competitive positions in their respective markets, marking another year of growth across all our recruitment markets.”

“Contributing to our success is undoubtedly the growth in Ganymede [contingent labour within Rail, Civils, Highways, Engineering and Construction.] and our increasing international capability. Although there is still work to be done in the regional branch network in ATA Recruitment in the UK to re-establish our stronghold in the SME market, we expect to complete that in 2014 and to drive for further growth in all three core businesses. We have also undertaken and expect to complete our major information technology and systems infrastructure upgrade in the first half of 2014. Both globally and in our own Group there are important challenges but also many exciting opportunities.”

In 2013 the Group withdrawal from training and the consequential focused on Ganymede Solutions and ATA Global Staffing Solutions. ATA Recruitment now has contract and permanent in all locations including their major vertical markets branch in Derby. ATA Global Staffing Solutions is diversifying away from reliance on a contract in Afghanistan to encompass broader coverage of the Middle East and Africa.

Ganymede Solutions has turned in a remarkable performance according to the company in 2013 and is now operates in railway and other infrastructure maintenance. Further enhancement of management and the recent recruitment of a rail biased Managing Director will allow the company to enlarge their railway footprint for the next five years they believe.

The company will not be paying any dividends for 2013. Their stated objective is “to return to payment of dividends as soon as our continued balance sheet enhancement and profits growth permit and to clear the way to that we are seeking authority from shareholders at the upcoming Annual General Meeting (AGM) to transfer share premium account to distributable reserves if that is considered to be appropriate”.

RTC Group PLC (RTC:LSE) set a new 52-week high during today's trading session when it reached £29.00. Over this period, the share price is up 161.36%. This means the company is valued £3.45 million GBP.


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