Contract extension for Network Rail
12 November 2019
RTC Group Plc
("RTC", "the Company" or "the Group")
Contract extension for provision of Contingent Labour Services to Network Rail
RTC Group Plc (AIM: RTC.L) is delighted to announce that Network Rail have agreed to extend their contract with the Group's 100% owned subsidiary, Ganymede, by one year, to 31 March 2021. Revenues in the extension year are expected to be in line with current activity.
Ganymede provides safety critical staff to industry and in 2015 was chosen by Network Rail to be a key strategic partner for their CP5 (control period five) programme of work. This extension, along with the initial contract term covers the first two years of CP6 (control period 6), a five year £35bn spending and investment programme into the UK's railway network announced by government in October 2018. The original contract was entered into on 20 March 2015.
Commenting on the award, Andy Pendlebury, CEO, said:
"This extension is a result of the excellent service that Ganymede delivers to Network Rail. I would like to extend my thanks and congratulations to the whole team at Ganymede for all their hard work and commitment."
RTC Group Plc
Tel: 0133 286 1835
Bill Douie, Chairman
Andy Pendlebury, Chief Executive
SPARK Advisory Partners Limited (Nominated Adviser)
Matt Davis / Mark Brady
Tel: 0203 368 3550
Whitman Howard Limited (Broker)
Nick Lovering / Christopher Furness
Tel: 020 7659 1234
RTC has two strategic business units: Recruitment and Central Services.
The Recruitment arm is the key revenue generator for the Group providing recruitment services in the UK through its Ganymede and ATA brands and worldwide through its Global Staffing Solutions brand.
Central Services provide all central services for the Group including their head office facilities in Derby. It also generates income from excess space at the Derby site including rental and conferencing facilities.
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