RHL.L Share News (RHL)

Engineering support services group Redhall said annual profit slipped after substantial rebranding costs.Chairman David Jackson said he was pleased with the group's performance in difficult market conditions.Demand from the oil and gas was satisfactory while Defence traded exceptionally well with operating profit almost double last year, the group said. Process however traded below expectations.For the year ended 30 September pre-tax profit fell to £4.5m after substantial exceptional costs while revenue for the period rose 12% to £144.7m. Adjusted profit before tax increased 9% to £7m."The medium and long term prospects remain extremely good. We are confident that we have positioned the business in key sectors in growth markets and in particular we are looking forward to the start of the Nuclear New Build programme where we have a lot to offer" said Jackson.Redhall's order book remains at a consistent level with last year at £115m. A total dividend of 4.8p has been proposed, up 9% from 4.4p in 2009. Net cash resources fell to £5.4m from £6.3m the year before. The firms said in 2010/11 it would restructure the nuclear businesses to trade as Redhall Nuclear.