RPS Group PLC - London-based professional services firm - Performance in quarter to April 1 was "encouraging" and "slightly" ahead of internal expectations. Fee revenue up 12% year on year to GBP131.8 million.
"With growing order books and increasing headcount, all segments, except North America, delivered year-on-year fee revenue growth in Q1. Although private equity activity has been slow to ramp up post the year-end and delays continue in the initiation of government infrastructure projects, market drivers remain positive in North America," company says.
Group April 1 contracted order book up 8% on end of December and up 15% on year before. Cash flow continues to be "tightly managed".
Chief Executive John Douglas adds: "Our key thematics continued to drive momentum into the new financial year and we secured some significant client wins in the period."
Current stock price: 103.75 pence, up 1.7% on Wednesday
12-month change: up 5.9%
By Paul McGowan; email@example.com
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