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RPS Group FY19 Pre-tax Profit Falls; Group Finance Director Gary Young To Retire

RPS Group plc (RPS.L) reported Wednesday that its statutory profit before tax for fiscal 2019 fell to 4.84 million pounds from 40.98 million pounds in the previous year. Loss per share for the year was 0.54 pence, compared to earnings of 13.23 pence in the prior year.

The results for the latest year include exceptional items totaling 23.4 million pounds, including goodwill impairment in AAP of 19.8 million pounds.

Adjusted earnings per share for the year declined to 12.31 pence from 16.34 pence in the prior year.

Revenue for the year declined to 612.60 million pounds from 637.38 million pounds a year ago. Fee income decreased to 556.5 million pounds from 574.2 million pounds last year.

The company said that the total (paid and proposed) dividend for the year amounts to 10.0 million pounds, compared to 22.1 million pounds last year, and is equivalent to 4.42 pence per share.

The proposed final dividend amounts to 4.5 million pounds, equivalent to 2.00 pence per share, and will be paid on 15 May 2020 to shareholders on the register of members at close of business on 24 April 2020.

RPS Group also announced the retirement of Gary Young, Group Finance Director, who will step down from the Board at the time of the company's Annual General Meeting on 30 April 2020. Gary has been with RPS Group for twenty years.

Gary will remain available to the business to support with transition and will be succeeded by Judith Cottrell, currently RPS Group Strategy Director. Cottrell will be appointed at the Annual General Meeting.

Looking ahead to fiscal 2020, RPS Group said its Board remains confident in the medium term outlook for the Group and anticipates that the year ahead will be broadly in line with 2019, with growth accelerating in 2021.

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