RPS snaps up Aussie consulting firm
RPS, the natural resources, land and property consultancy group, has acquired consulting firm Manidis Roberts, expanding its footprint in the water, transport and power-supply infrastructure markets in Australia.
RPS, the natural resources, land and property consultancy group, has acquired consulting firm Manidis Roberts, expanding its footprint in the water, transport and power-supply infrastructure markets in Australia.
Manidis Roberts (MR), founded in 1988, is an environmental and project management consultancy headquartered in Sydney.
"MR has particular expertise in the water, transport and power supply sectors, all of which are expected to grow in coming years. MR will further expand the RPS presence in New South Wales, complementing the skills of our urban planners, water, environmental and cultural heritage specialists and surveyors based in Sydney and Newcastle," RPS said in a statement on Thursday.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
The firm generated revenues of A$27.2m (£18m) in the year to June 30th 2011 and a profit before tax of A$5.8m. However, these figures declined to around A$23.7m and A$5.2m in the year to June 30th 2012. It seems as if RPC has paid a good price for MR, which is being acquired for a maximum cash consideration of just A$30m.
RPS expects the acquired business to improve group earnings "marginally" in the remainder of 2012, and anticipates that its performance next year will "at least return to 2010/2011 levels, making it a worthwhile contribution to the group results".
Alan Hearne, the Chief Executive of RPS, said: Although parts of the Australian economy are still feeling the effects of the global financial crisis, the RPS board continues to see selective investment in our Australian business as an attractive part of our strategy."
"MR has an impressive track record and profile in markets likely to expand in coming years, particularly the provision of water, transport and power supply infrastructure. We also see significant opportunities to introduce their skills to the energy infrastructure markets on both the east coast and in Western Australia".
BC
Sign up for MoneyWeek's newsletters
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
-
What happens if you can’t pay your tax bill, and what is "Time to Pay"?
Millions are due to file their tax return this Friday as the self-assessment deadline closes. Though the nightmare is not over until you pay the taxman what you owe - or face a penalty. But what happens if you can't afford to pay HMRC your tax bill, and what is "Time to Pay"?
By Kalpana Fitzpatrick Published
-
What does Rachel Reeves’s plan for growth mean for UK investors?
Rachel Reeves says she is going “further and faster” to kickstart the UK economy, but investors are unlikely to be persuaded
By Katie Williams Published