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RS Group Expects Full Year Revenue, Adj. Profit Slightly Ahead Of Consensus Expectations

RS Group plc (RS1.L) reported second quarter like-for-like revenue growth of 15%. The Group estimated a 4% benefit to second quarter revenue from foreign exchange. For the first half period to Sept 2022, like-for-like revenue growth was 16%.

Given strong trading performance year to date, the Group expects full year revenue and adjusted profit before tax to be slightly ahead of current consensus estimates, albeit with a greater first half weighting than historically delivered.

Lindsley Ruth, CEO, said: "We remain mindful of the more challenging economic backdrop but believe we have built a strong, sustainable business that can withstand external headwinds and outperform the market. As such, we will continue to invest in our product and service solutions capability and customer experience to support our Journey to Greatness and drive profitable growth, capitalising on the significant market share opportunity we see."

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