FINANCIALS: RTC Group sees small rise in revenue

Engineering and tech staffing specialist RTC Group has seen a marginal increase in revenue, according to unaudited results for the six months ended 30 June 2017.

The results, published this morning, reveal group revenue from continuing operations rose to £35.1m from £34.1m in H1 2016, along with an increase in gross profit from operations, up from £600k to £700k and profit before tax, up from £400k to £600k over the same period.

Across the group’s operations, its Ganymede business saw revenue increase 2.4% on the previous year, while its ATA business saw revenue rise 6.5% on H1 2016.

However, there was also a 6.1% decrease in revenue year-on-year for the group’s Global Staffing Solutions business.

Commenting on the group’s results, chairman Bill Douie pointed to a “positive” start to 2017: “Ganymede continues to perform well and profits have grown in line with expectations. As announced on 25 July 2017, Ganymede Energy has secured a significant contract with SSE commencing in November 2017 to source, train and provide dual fuel installers for its smart-meter roll-out programme.

“ATA, like many companies in its sector, is experiencing tighter market conditions in permanent placements. However, it is growing its contract business ahead of expectations.

“Global Staffing Solutions (GSS) continues to maintain its steady presence in Afghanistan and is enjoying promising new client opportunities both there and in other Middle East regions.

“The refurbishment at the Derby Conference Centre (part of Central Services) has been completed and the Centre has returned to profitability.

“The directors are confident that trading in the second half of 2017 will be in line with expectations. The Board continues to implement ambitious growth initiatives across all group businesses and looks forward to the remainder of the year with optimism.”

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