RPS Group on track to deliver growth this year

Multinational energy and environmental consultancy company RPS Group said it expects first half results to be in line with the previous year.

Multinational energy and environmental consultancy company RPS Group said it expects first half results to be in line with the previous year.

While the group experienced a slowdown in resource investments in the Australia, Asia Pacific region, the energy business remains on track to deliver growth this year, according to an interim management statement.

Oil and gas exploration expenditure in Australia and Asia Pacific fell due to increasing costs pressures while the US and Europe, Africa and Middle East rose on strong performance.

In January, the company successfully integrated newly acquired Petroleum Institute for Continuing Education (PEICE), a Canadian based business providing geoscience and engineering training to the oil and gas industry.

RPS said PEACE should help offset weak results in Canada as its clients' potash projects move into a phase of the development cycle in which the group has less involvement.

Last month RPS announced the acquisition of Knowledge Reservoir in Houston for a maximum consideration of $20m, to strengthen its US business. Following reorganisation of non-US entities and integration of its US business it is expected to make a limited contribution this year and a full contribution in 2014.

The firm's Business New Europe (BNE) arm wielded robust results despite economic uncertainty which held back project investments in the first months of the year.

A strong position in the energy infrastructure market enabled the group to win projects. BNE results this year are expected to be in line with last year.

Net bank debt at the end of March was £9.1m, compared with £15.2m at the same time last year and £13.5m at the end of 2012.

RD

Recommended

Imperial Brands has an 8.3% dividend yield – but what’s the catch?
Share tips

Imperial Brands has an 8.3% dividend yield – but what’s the catch?

With an impressive dividend yield of 8.3%, Imperial Brands looks to be one of the most attractive income stocks in the FTSE 100 . But investors should…
6 Jul 2022
Can Royal Mail continue to deliver its 7.6% yield?
Share tips

Can Royal Mail continue to deliver its 7.6% yield?

Royal Mail shares are yielding 7.6% this year. But it’s facing some huge challenges, says Rupert Hargreaves. So is Royal Mail’s dividend sustainable?
6 Jul 2022
Saga’s figures are heading in the right direction – so should you buy?
Share tips

Saga’s figures are heading in the right direction – so should you buy?

Saga the over-50s travel and financial services specialist, has been struggling for years. But now, with the pandemic behind, it it is planning for fu…
5 Jul 2022
Director dealings w/e 1 July: what company insiders are buying and selling
Stocks and shares

Director dealings w/e 1 July: what company insiders are buying and selling

Directors’ share dealings can often give investors an insight into the sentiment of company insiders. Here are some of the biggest deals by company di…
5 Jul 2022

Most Popular

Ray Dalio’s shrewd $10bn bet on the collapse of European stocks
European stockmarkets

Ray Dalio’s shrewd $10bn bet on the collapse of European stocks

Ray Dalio’s Bridgewater hedge fund is putting its money on a collapse in European stocks. It’s likely to pay off, says Matthew Lynn.
3 Jul 2022
Persimmon yields 12.3%, but can you trust the company to deliver?
Share tips

Persimmon yields 12.3%, but can you trust the company to deliver?

With a dividend yield of 12.3%, Persimmon looks like a highly attractive prospect for income investors. But that sort of yield can also indicate compa…
1 Jul 2022
Is inflation about to drop as recession takes hold?
UK Economy

Is inflation about to drop as recession takes hold?

Central banks are raising interest rates in an attempt to curb soaring inflation. But will that push the economy into recession? John Stepek looks at …
5 Jul 2022