RPS lifts dividend as annual profit rises
Energy consultancy group RPS said higher revenue and fee income had driven annual pre-tax profit up in 2014.
FTSE 250
19,601.98
17:09 25/04/24
FTSE 350
4,434.34
17:09 25/04/24
FTSE All-Share
4,387.94
16:49 25/04/24
RPS Group
221.00p
16:39 23/01/23
Support Services
10,523.75
17:09 25/04/24
In the year ended 31 December, pre-tax profit rose 6.2% to £46.3m, while revenue edged up 0.79% to £572.1m on the back of income fees rising 2.6% to £505m.
"Once again our business model delivered good results, with a number of high quality acquisitions making a significant contribution and positioning us well for 2015,”said group chairman Brook Land.
“This was achieved despite a number of factors outside our control, notably the strength of sterling, the rapid fall in the oil price and unrest in the Middle East.
"We believe our positioning and business model should deliver a successful outcome and further growth in the current year."
The FTSE 250 group lifted its dividend on the back of the results up to 8.47p from 7.36p in the corresponding period 12 months ago.
Analysts at Numis reiterated its ‘buy’ rating on the stock on the back of what it described as results that were in line with expectations, adding it expect earnings per share to grow by 6% in 2015.
RPS shares were up 3.24% to 248.80p at 09:05 on Thursday.