RPS Group boosts divi after 'robust' 2013 performance

RPS Group reported a 'robust' performance in 2013, prompting a 15 per cent increase in the dividend for investors in the oil and gas consultancy. The company also gave an upbeat outlook for the year ahead, saying it was well-positioned in markets of importance to the global economy.On a statutory basis, pre-tax profit rose from £40.2m to £43.6m year-on-year, boosted by revenue, which increased from £555.9m to £567.6m. Basic earnings per share climbed from 11.94p to 13.11p. The group did note that, due to the appreciation of sterling over the year, profit before tax and amortisation converted at the year-end would have been £2.7m less than actually reported. Chairman Brook Land said: "2013 was a good year for the group despite a significant slowdown in the resources sector in Australia and strengthening of sterling. RPS remains a well respected company operating in a global marketplace. "Our range of activities and geographic spread will enable us to generate further growth as the global recovery develops further. We continued to deliver our strategy by investing in a number of high quality acquisitions in attractive markets. The board is confident this will enable us to perform well in 2014."Broker Jefferies reiterated its 'buy' rating on the stock, saying: "Whilst FX may result in low to mid-single digit 2014 consensus earnings per share downgrades, given recent share price weakness [...] we remain buyers." The total dividend per share rose from 6.40p to 7.36p.The share price rose 1.93% to 322.30p by 10:35.NR