"Q1-2018 trading steady and in line with management's expectations"
RPS announces that the Group's trading for the three months ended 31 March 2018 ('Q1-2018') was in line with management's expectations.
Fee income in Q1-2018 was £141.9 million (Q1-2017: £141.3 million, at constant currency £135.9 million).
Profitability in Q1-2018, while slightly above management's expectation, was lower than in the same period last year due to the Easter holiday break falling partly in March this year and due to foreign exchange movements.
Our Built and Natural Environment (BNE) business in Europe experienced steady conditions in all its main markets. In BNE North America, market conditions were good although it remains difficult to recruit staff which is hampering progress. In Australia Asia Pacific, market conditions were generally favourable on the east coast and there was more activity in the west coast oil and gas markets. In Energy there has been a marked increase in the level of enquiries and general market activity although this has yet to translate into additional work.
Net bank debt at 31 March 2018 was £87.0 million (31 December 2017: £80.6 million).
01 May 2018
|For further information:|
|RPS Group plc|
|John Douglas, Chief Executive||Tel: +44 (0) 1235 863206|
|Gary Young, Finance Director||www.rpsgroup.com|
|Henry Harrison-Topham / Chris Lane / Maddie Seacombe||Tel: +44 (0) 20 7466 5000|
RPS define, design and manage projects in the property, energy, transport water, defence and security and resources sectors across 125 countries. Our main offices are in the UK, Ireland, the Netherlands, Norway, the USA, Canada and Australia Asia Pacific. We undertake projects in many other parts of the world.
This announcement contains certain forward-looking statements with respect to the financial condition, results of operations and businesses of RPS Group plc. These statements involve risk and uncertainty because they relate to events and depend upon circumstances that will occur in the future. There are many factors that could cause actual results or developments to differ materially from those expressed or implied by these forward-looking statements. The Board of RPS considers market expectations are best defined by the range of forecasts for PBTA published by analysts who consistently follow the Group. Nothing in this announcement should be construed as a profit forecast.