Trading update and Notice of Results
18 January 2018
RTC Group plc
("RTC" or the "Company")
Trading update, share price movement and notice of results
Share price movement
The Board has noted the fall in the Company's share price in recent days following the announcements by Carillion PLC. The Company wishes to clarify to the market that whilst it has some limited exposure to the situation at Carillion, as set out below, the performance of all group business is strong and that trading remains in line with current market expectations.
The board anticipates that the results for the year ended 31 December 2017 will be in line with market expectations.
Limited Carillion Exposure
The Company supplies labour to Carillion Construction Limited ("Carillion") to support Network Rail projects and renewals work. The Company has outstanding debts from Carillion of less than £100,000 that will be fully provided in the financial statements for the year ended 31 December 2017. The Company is actively engaging with Carillion via the Official Receiver to ascertain how it can continue to support Network Rail and maintain this income stream.
Notice of Results
The Company expects to announce its preliminary results on or around 26 February 2018.
Andy Pendlebury, CEO, said:
"Notwithstanding that, along with the whole of industry we are disappointed in the Carillion situation, we are pleased that our trading in 2017 was in line with market expectations. All of our group businesses performed well and we remain confident that this positive momentum will continue in 2018."
~ Ends ~
RTC Group plc
Bill Douie, Executive Chairman
Andy Pendlebury, CEO
Sarah Dye, Group Finance Director
Tel: 01332 861 844
SPARK Advisory Partners Limited (Nominated Adviser)
Matt Davis / Mark Brady
Tel: 0203 368 3550
Whitman Howard Limited (Broker)
Nick Lovering / Francis North
Tel: 020 7659 1234
RTC has three principal trading subsidiaries engaged in the recruitment of human capital resources and the provision of managed services.
ATA is one of the UK's leading engineering and technical recruitment consultancies. Supplying white and blue collar engineering and technical staff to a broad range of SME clients and vertical markets.
Ganymede is focussed on the supply and operation of blue collar contingent labour into safety critical markets.
Global Staffing Solutions predominantly provides managed service solutions for international clients.
This information is provided by RNS
Quick facts: RTC Group PLC
Market Cap: £7.98 m
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