LONDON (Alliance News) - Environmental consultancy RPS Group PLC on Thursday reported a "steady" first half where it increased revenue and profit.
RPS pretax profit for the six months ended June were up 11% to GBP22.6 million from GBP20.4 million. Revenue was up 2.1% to GBP321.1 million from GBP314.5 million year-on-year.
The company's best performing segment was Energy, where its profit increased 47% to GBP4.7 million from GBP3.2 million.
RPS underwent a strategy change in July and now its Energy division comprises its direct oil & gas exposed businesses - where "activity has increased" in the half.
The division also benefited from GBP1.0 million in bad debt provision reversals, up from GBP800,000 the year before.
RPS is proposing an interim dividend of 4.80 pence per share, flat on the year before.
Looking ahead, the company expects its "steady" first half performance to continue into the second half.
RPS will continue to seek out acquisitions and its expects the increased activity in the oil & gas markets to continue to help its Energy division.
Chief Executive Officer John Douglas said: "The performance in the first half of the year has been steady overall, benefiting from a strong improvement in Energy. We have made good progress in respect of our strategic priorities including the re-organisation of the business that will provide a solid platform for growth."
Shares in RPS were up 0.3% Thursday at 246.75 pence each.
