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RPS Group first-half profit rises 35 percent; expects to beat financial year estimates
August 4, 2017 / 7:07 AM / 15 days ago

RPS Group first-half profit rises 35 percent; expects to beat financial year estimates

(Reuters) - Infrastructure and resources consultant RPS Group Plc (RPS.L) reported a 35 percent rise in first-half profit and said it expects to modestly exceed market expectations for the full year.

The company also raised its dividend by 3 percent to 4.80 pence per share.

RPS, which advises on the oil and gas, nuclear and transport sectors, said the profit boost came from its acquisitions in Norway and Australia and due to lower costs at its energy businesses.

The company had committed about 126 million pounds to acquisitions between 2014 and 2016 outside of oil and gas in an effort to reduce its dependence on the sector.

RPS said profit before tax, amortisation and transaction related costs rose to 27.2 million pounds ($35.74 million) in the period ended June 30 from 20.2 million pounds a year ago.

Revenue rose 7.9 percent to 314.5 million pounds, the company said.

Reporting by Justin George Varghese in Bengaluru; Editing by Sunil Nair

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