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RPS - RPS News Story

167p 8.2  5.2%

Last Trade - 13/12/19

Sector
Industrials
Size
Mid Cap
Market Cap £379.2m
Enterprise Value £527.0m
Revenue £565.3m
Position in Universe 639th / 1841

BUZZ-RPS: Slumps, Australian weakness to drag 2019 results lower

Wed 26th June, 2019 1:21pm
(Adds analyst comments)
    ** Business consultancy firm RPS Group's shares  RPS.L  fall
over 40%; hit over 10-1/2-year low
    ** Co says FY 2019 results will be "materially below
management and market expectations" due to adverse impact of
recent trading conditions in Australia & Asia Pacific (AAP) unit
 urn:newsml:reuters.com:*:nL4N23X1S5
    ** Co says Australian economy is experiencing its slowest
growth since 2009, public sector infrastructure work has been
affected by recent state elections in Victoria and in New South
Wales
    ** "Both elections resulted in the return of existing
majority governments but there has been some hiatus in
infrastructure spend," co says 
    ** Analysts at Peel Hunt cuts its RPS 2019 PBT forecast by
26%
    ** "Notwithstanding the near-term impact, RPS is well placed
to benefit when the Australian market recovers" - Peel Hunt

 (Reporting by Shariq Khan and Justin George Varghese in
Bengaluru)
 ((Shariq.Khan@thomsonreuters.com))
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