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FINANCIALS: Ganymede helps RTC Group increase revenue

Mon, 29 Feb 2016

Blue-collar recruiter Ganymede’s Network Rail contract has helped parent company multi-sector recruiter RTC Group increase group revenue by 27%, according to audited results for the year ended 31 December 2015.

The results, published this morning, reveal Ganymede doubled its revenue in the past year, buoyed by last February’s award of a five-year contract by Network Rail. The contract covers the supply of contingent labour in the West, South-West and North-East of England, the Midlands and Wales for Network Rail’s CP5 (control period five) programme. 

Across the group, revenue increased 27% in 2015 to £65m from £51m in 2014.

Gross profit also increased 25% to £12.7m, from £10.2m, along with profit before tax, up 30% to £1.3m from £1m in the previous year.

The results also reveal engineering and technical subsidiary ATA had another “excellent” year of growth, while RTC’s managed service solutions provider GSS has launched Qatar-based company GSS Qatar. Over the next six months, this new company will explore opportunities for GSS to provide large volume migrant workers on long-term infrastructure projects in Qatar. 

Figures for individual subsidiaries were not provided.

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