LONDON (Alliance News) - Engineering services firm RPS Group PLC held its full-year dividend Thursday after revenue rose, it swung to a profit amid a sharp fall in costs, and 2019 trading remained "satisfactory."
In 2018, RPS swung to a GBP41.0 million pretax profit from a loss of GBP1.6 million the year prior. This was amid revenue rising to GBP637.4 million from GBP630.6 million the year before.
Profit performance was helped by a sharp fall in acquisition- and disposal-related costs to GBP9.2 million from GBP55.5 million the year prior of which GBP40.0 million had been a goodwill impairment charge.
RPS proposed a 5.08 pence per share final dividend, unchanged on the year prior. For the full year, the dividend also remained unchanged at 9.88p.
"2018 has been a year of transition and investment for the group," RPS Chief Executive Officer John Douglas said. "We have made significant progress in respect of our five strategic priorities. Our people have been integral to delivering this progress. I would like to thank them all for their vision, hard work and dedication in delivering these results."
"Alongside investment in RPS' brand, 2019 will see a continuation of the focus and investment in its people, technology and innovation," Douglas added. "Trading conditions in most of our markets appear satisfactory and against this background, the board's view of the 2019 outlook for the group is unchanged and is in line with market expectations."
Shares in RPS were 1.5% higher at 172.80 pence on Thursday.
