Australian floods hit RPS

3rd Feb 2011 14:49

Environmental consultancy RPS says that its 2010 figures will be in line with expectations but broker Numis has downgraded its 2011 forecast by 4% due to the flooding in Queensland. The £47.5 profit forecast for 2010 is maintained but the 2011 figure has been cut by £2m to £49.5m. Net bank debt was around £32m at the end of 2010. RPS has signed heads of terms to acquire two energy sector businesses for a total investment of £28m. These deals are expected to be earnings enhancing. RPS will release its full year figures on 2 March. The UK and Irish planning and development operations have been integrated and will be reported as one division from now on.