RPS Group raised dividend 15 per cent as half-year profits rise

1st Aug 2013 14:53

RPS Group, a consultancy for natural resources, land and property, environment and health and safety sectors, reported a rise in pre-tax profits for the first half on higher revenues.Pre-tax profit climbed to £21m in the first six months from £19m for the same period a year ago as revenue increased to £280.9m from £276.1m.Adjusted earnings per share was up slightly to 9.81p rom 9.80p.Results were driven by profit from energy and build and natural environment industries. "RPS has delivered a creditable result for the first half of 2013," said Chairman, Brook Lande. "Once again our conversion of profit into cash has been strong."The interim dividend was lifted 15% for the 20th consecutive year to 3.52p per share as the board remains confident about the group's financial strength.In January the group announced the acquisition of PEICE, a Canadian based training business in the oil and gas sector, for a maximum consideration of £7.4m. Lande said the group has made good progress integrating the business with existing training activities in the energy market. "With our flexible and robust business model, the board believes RPS is likely to deliver growth for the full year," Lande added. "Our acquisition pipeline also gives us further cause for optimism."RD