LONDON (ShareCast) - (ShareCast News) - Engineering and technical recruitment company RTC Group announced its audited results for the year to 31 December on Monday, with group revenue rising to £67.9m from £64.9m year-on-year.
The AIM-traded form posted gross profit down slightly to £12.1m from £12.7m, with profit before tax at £1.1m, falling from £1.3m.

Basic earnings per share reduced to 5.80p from 7.85p, although cash inflow from operations improved to £1.7m from £0.5m in 2015.

"2016 was another positive year for RTC," commented CEO Andy Pendlebury.

"Ganymede continues to build its reputation as a leading supplier to Network Rail on its CP5 maintenance and renewals programmes.

"ATA's regional branch network delivered another solid year and the ATA project business, despite its third quarter difficulties, rebounded strongly in the last quarter of the year."

Pendlebury said whilst overall group revenue only increased modestly from 2015 and gross margin and net profit were not as originally hoped, cash generation was strong and the board was pleased to be able to propose a 2.0p per share final dividend.

"We will continue to build value for shareholders through the further implementation of the board's strategic plan of building and investing in complementary subsidiary businesses.

"RTC will seek to develop new opportunities for growth through the delivery of both independent and integrated solutions for existing and new clients," Pendlebury said.

"Our success in capturing multi-subsidiary business opportunities is growing and as more clients are aggressively accelerating supply chain consolidation, we believe our strategic advantage will gather pace."

Email this article to a friend

or share it with one of these popular networks:

• DIGG
• FACEBOOK
• STUMBLEUPON
• MIXX
• YAHOO BUZZ
• DELICIOUS
• REDDIT
• NEWSVINE