FINANCIALS: RTC Group reveals rise in revenue and profit

RTC Group has seen group revenue increase 17% year-on-year, according to interim results for the six months to 30 June 2018.

Results, released by the engineering and technical recruiter morning, reveal group revenue from continuing operations increased by 17% to £41.1m from £35.1m in 2017, while gross profit increased to £6.6m from £6m in the same period last year.

The group’s increase in revenue was fuelled by “solid” growth in perm and temporary recruitment activities for its ATA business, according to the company. Its GSS business saw a “steady” increase in the number of workers supplied to international partner KBR and its contract with another major US outsourcing organisation.

However, the group reported its Ganymede business has seen lower than expected demand from Network Rail and temporary delays caused by the approval of SMET2 smart-meter technology. However, demand has since picked up from Network Rail, according to the results statement.

RTC chairman Bill Douie said: “The optimism that we expressed earlier in the year has been justified by a highly satisfactory set of results. We remain confident of continued strong trading, in line with expectations, during the second half, and of delivering our ambitious growth plans across all our group businesses.”

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