REG - RTC Group PLC - RTC Group Plc Interim Report 2022
29/07/2022 07:01
For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20220729:nRSc1622Ua&default-theme=true
RNS Number : 1622U RTC Group PLC 29 July 2022
This announcement contains inside information as stipulated under The Market
Abuse Regulation (EU No. 596/2014).
29 July 2022
RTC Group Plc
("RTC", "the Company" or "the Group")
Interim Results for the Six Months Ended 30 June 2022
RTC Group Plc (AIM: RTC.L), the engineering and technical recruitment Group,
is pleased to announce its unaudited results for the six months ended 30 June
2022.
Summary:
· Group revenue from continuing operations was £34.4m
(2021: £40.5m);
· EBITDA £0.1m (2021: £0.7m);
· Loss before tax was £0.4m (2021: profit of £0.2m);
· Net assets £6.2m (2021: £6.7m);
· Net cash outflow from operating activities £0.6m
(2021: £2.1m); and
· Basic loss per share 2.43p (2021: earnings per share
0.76p).
No dividends were paid in the period (2021: Nil). At this time, no interim
dividend is proposed for the year ended 31 December 2022 (2021: Nil).
Commenting on the results, Bill Douie, Chairman, said:
"The first half of 2022 has been a difficult trading period. Several of our
trading areas have responded well to opportunities arising from the transition
from onerous pandemic conditions to an acceptance that we are able to live
with continuing COVID outbreaks, bringing nearer to normal business
conditions. In addition, the change of routes awarded in our new long-term
Network Rail contract has brought a number of short-term but significant
challenges and costs resulting in a reduced contribution from that element of
our Group.
However, despite this and other headwinds bringing a deteriorating global
economic situation following the outbreak of hostilities between Russia and
Ukraine, our UK, international and energy recruitment businesses all showed
improving signs of growth and The Derby Conference Centre has increased its
profitability.
This has resulted in a small positive EBITDA but a Group pre-tax loss for the
first half.
Although the second half of the year will be affected by the emergence of
'definitely not transitory' higher levels of inflation and increasing interest
rates, we are expecting all areas of our business that are currently
performing well to continue to do so and the rail business situation to
stabilise enabling a return to a more positive trading outcome for that
period."
The interim report is available on the Company's website www.rtcgroupplc.co.uk
(http://www.rtcgroupplc.co.uk) .
ENDS
Enquiries:
RTC Group Plc Tel: 0133 286 1835
Bill Douie, Chairman
Andy Pendlebury, Chief Executive
www.rtcgroupplc.co.uk (http://www.rtcgroupplc.co.uk)
SPARK Advisory Partners Limited (Nominated Adviser) Tel: 0203 368 3550
Matt Davis / James Keeshan
www.Sparkadvisorypartners.com (http://www.Sparkadvisorypartners.com)
Panmure Gordon (Broker) Tel: 020 7886 2500
Hugh Rich
www.panmure (http://www.Whitman-howard.com) .com
About RTC
RTC Group Plc is an AIM listed business that focuses on white and blue-collar
recruitment, providing temporary and permanent labour to a broad range of
industries and customers in both domestic and international markets through
its geographically defined operating divisions.
UK division
Through its Ganymede and ATA Recruitment brands the Group provides a wide
range of recruitment services in the UK.
Ganymede specialise in recruiting technical and engineering talent and
providing complete workforce solutions to help build and maintain
infrastructure and transportation for a wide range of clients. Ganymede is a
market leader in providing a diverse range of people solutions to the rail,
energy, construction, highways, and transportation sectors. With offices
strategically located across the country, Ganymede provides its clients with
the benefit of a national network of skilled personnel combined with local
expertise.
ATA Recruitment provide technical recruitment solutions to the manufacturing,
engineering, and technology sectors. Working as an engineering recruitment
partner supporting businesses across the UK. ATA Recruitment has a strong
track record of attracting and recruiting engineering talent for our clients.
ATA's regional offices which are strategically located in Leicester and Leeds
each have dedicated market-experts to ensure ATA delivers excellence to both
our clients and candidates.
International division
Through its GSS brand the Group works with customers across the globe that are
focused on delivering projects in a variety of engineering sectors. GSS has a
track record of delivery in some of the world's most hostile locations.
Working closely with its customers GSS provides contract and permanent
staffing solutions on an international basis, providing key personnel into new
projects and supporting ongoing large-scale project staffing needs. GSS
typically recruit across a range of disciplines and skills from operators and
supervisors, through to senior management level.
The Group headquarters are located at the Derby Conference Centre which also
provides office accommodation for its operating divisions in addition to
generating rental and conferencing income from space not utilised by the
Group.
Chairman's statement
Six months ended 30 June 2022
The first half of 2022 has been a difficult trading period. Several of our
trading areas have responded well to opportunities arising from the transition
from onerous pandemic conditions to an acceptance that we are able to live
with continuing COVID outbreaks, bringing nearer to normal business
conditions. In addition, the change of routes awarded in our new long-term
Network Rail contract has brought a number of short-term but significant
challenges and costs resulting in a reduced contribution from that element of
our Group.
However, despite this and other headwinds bringing a deteriorating global
economic situation following the outbreak of hostilities between Russia and
Ukraine, our UK, international and energy recruitment businesses all showed
improving signs of growth and The Derby Conference Centre has increased its
profitability.
This has resulted in a small positive EBITDA but a Group pre-tax loss for the
first half.
Although the second half of the year will be affected by the emergence of
'definitely not transitory' higher levels of inflation and increasing interest
rates, we are expecting all areas of our business that are currently
performing well to continue to do so and the rail business situation to
stabilise enabling a return to a more positive trading outcome for that
period.
W J C Douie
Chairman
29 July 2022
Finance Director's statement
Six months ended 30 June 2022
Highlights
The Group delivered revenues of £34.4m (2021: £40.5m), EBITDA £0.1m (2021:
£0.7m) and a loss before tax of £0.4m (2021 profit before tax: £0.2m) for
the six months ended 30 June 2022.
The UK Recruitment segment delivered a mixed performance H1 2022. Overall, the
segment delivered reduced revenues of £31.1m (2021: £34.2m) which was
converted to significantly reduced profit from operations of £0.6m (2021:
1.5m). Both permanent and temporary UK recruitment has performed very well
capitalising on the current buoyant, albeit competitive, jobs market.
Smart-meter installation activities have also been strong with further growth
expected in H2. However, our Rail business has been severely impacted by fuel
and general price increases being seen with high inflation coupled with the
significant disruption caused by Network Rail's decision to award all
suppliers new contract delivery areas. We are currently working with Network
Rail to address these issues.
International recruitment saw the impact of the withdrawal of the US from
Afghanistan in Q2 2021 which has resulted in reduced revenues H1 2022 of
£2.5m (2021: £6.0m). Profit from operations reduced to £0.2m (2021:
£0.3m).
Within UK Central Services, our hotel and conference centre business has
significantly improved from H1 2021 when it was just providing bedroom and
meeting room facilities to key workers in line with Government guidelines and
is now approaching pre-pandemic levels. Revenue generated by the segment was
£0.9m (2021: £0.3m).
Taxation
The total tax credit for the period is estimated at £59,000 (2021: charge of
£53,000). This is higher than would be expected if the standard tax rate was
applied to the result for the period, as explained in note 3.
Earnings per share
The basic loss per share figure is 2.38p (2021: earnings per share of
0.76p). The diluted loss per share 2.38p (2021: earnings of 0.75p).
Dividends
No dividends were paid in the period (2021: Nil). At this time, no interim
dividend is proposed for the year ended 31 December 2022 (2021: Nil).
Statement of financial position
Net working capital has been maintained at £4.7m (2021: £4.8m). There has
been a decrease in debtors reflecting the drop in revenues versus H1 2021 and
improvement in key customer aged balances. Net assets have reduced to £6.2m
(2021: £6.7m). The Group has no term debt and is financed using its invoice
discounting and overdraft facilities with HSBC.
Cash flow
The cash outflow from operating activities of £0.6m (2021: £2.1m) for the
six-month period reflects the absence of the repayment in 2021 of £0.5m of
the £1.5 m VAT deferred in 2020 under the Government VAT deferral Scheme and
the improvement noted above in key customer balances.
Financing
The Group's current bank facilities comprise an overdraft of £50,000 and a
confidential invoice discounting facility of up to £12.0m with HSBC at a
discount margin of 1.6% above base. The Board closely monitors the level
of facility utilisation and availability to ensure there is enough headroom to
manage current operations and future needs of the business. The Group
continues to be focussed on cash generation and building a robust statement of
financial position to protect the business.
Own shares held
The cost of the Group's own shares purchased through the Employee Benefit
Trust is shown as a deduction from equity. No options were exercised during
the period. The balance of £235,918 on the own shares held reserve within
equity reflects 337,027 shares remaining in the EBT that will be used to
satisfy future exercises.
Going concern
The Group's current bank facilities include a net overdraft facility across
the Group of £50,000 and an invoice discounting facility with HSBC providing
of up to £12.0m, based on a percentage of good book debts, at a margin of
1.6% above base. The Board closely monitors the level of facility
utilisation and availability to ensure there is enough headroom to manage
current operations and support the growth of the business.
Given the after effect of the COVID pandemic, the increases in inflation, the
cost-of-living squeeze, and impacts on the economy of the events in Ukraine,
in addition to the established budgeting and forecasting processes, which
considers a range of plausible events and circumstances, a reverse stress test
has been undertaken. This shows that, assuming a continuation of the current
facilities, the Group has access to sufficient cash and facilities to
withstand a 30% reduction against the 2021 revenues without any significant
restructuring or other cost reduction measures.
In assessing the risks related to the continued availability of the current
facilities, the Board have taken into consideration the existing relationship
with HSBC and the strength of the security provided, and the quality of the
Group's customer base. Based on their enquiries, the Board have determined
that it remains appropriate to conclude that sufficient facilities will
continue to remain available to the Group and that the going concern basis of
preparation remains appropriate and that no material uncertainty exists. As a
result, the going concern basis continues to be appropriate in preparing the
interim results.
S L
Dye
Group Finance Director
29 July
2022
Consolidated statement of comprehensive income:
Six-month period ended 30 June 2022 Six-month period ended 30 June 2021 Year ended
31
December 2021
Unaudited Unaudited Audited
Notes £'000 £'000 £'000
Revenue 2 34,406 40,491 77,715
Cost of sales 2 (28,852) (34,786) (65,928)
Gross profit 2 5,554 5,705 11,787
Other operating income 2 - 311 351
Administrative expenses 2 (5,859) (5,776) (11,864)
Profit from operations 2 (305) 240 274
Finance expense (101) (78) (160)
Profit before tax (406) 162 114
Tax expense 3 59 (53) (109)
Total profit and other comprehensive income for the period attributable to (347) 109 5
owners of the parent
Earnings per ordinary share 4
Basic (2.43p) 0.76p 0.04p
Fully diluted (2.38p) 0.75p 0.03p
Consolidated statement of changes in equity for the six months ended 30 June 2022:
Share capital Share premium Own shares held Capital redemption reserve Share based payment reserve Profit and loss Total equity
£'000 £'000 £'000 £'000 £'000 £'000 £'000
Balance at 1 January 2022 146 120 (236) 50 146 6,320 6,546
Total comprehensive income for the period - - - - - (347) (347)
Transactions with owners:
Share options cancelled - - - - - -
Share based payment charge - - - - - - -
Total transactions with owners - - - - - - -
At 30 June 2022 (Unaudited) 146 120 (236) 50 146 5,973 6,199
Consolidated statement of changes in equity for the six months ended 30 June 2021:
Share capital Share premium Own shares held Capital redemption reserve Share based payment reserve Profit and loss Total equity
£'000 £'000 £'000 £'000 £'000 £'000 £'000
Balance at 1 January 2021 146 120 (236) 50 718 6,278 7,076
Total comprehensive income for the period - - - - - 109 109
Transactions with owners:
Share options cancelled - - - (782) 37 (745)
Share based payment charge - - - - 210 - 210
Total transactions with owners - - - (572) 37 (535)
At 30 June 2021 (Unaudited) 146 120 (236) 50 146 6,424 6,650
Consolidated statement of changes in equity for the year ended 31 December
2021:
Share capital Share premium Own shares held Capital redemption reserve Share based payment reserve Retained earnings Total equity
£'000 £'000 £'000 £'000 £'000 £'000 £'000
Balance at 1 January 2021 146 120 (236) 50 718 6,278 7,076
Total comprehensive income for the year - - - - - 5 5
Transactions with owners:
Share options cancelled - - - - (782) 37 (745)
Share based payment charge - - - - 210 - 210
Total transactions with owners - - - - (572) 37 (535)
At 31 December 2021 146 120 (236) 50 146 6,320 6,546
Consolidated statement of financial position:
As at As at As at
30 June 2022 30 June 31 December 2021
Unaudited 2021 Audited
Unaudited
£'000 £'000 £'000
Assets
Non-current
Goodwill 132 132 132
Other intangible assets 43 101 74
Property, plant, and equipment 1,574 1,602 1,554
Right of use assets 2,627 2,797 2,779
Deferred tax asset 40 30 40
4,416 4,662 4,579
Current
Inventories 11 8 21
Trade and other receivables 13,610 15,084 13,481
Cash and cash equivalents 681 737 946
14,302 15,829 14,448
Total assets 18,718 20,491 19,027
Liabilities
Current
Trade and other payables (5,926) (8,434) (6,430)
Lease liabilities (176) (276) (294)
Corporation tax 66 (147) -
Current borrowings (3,547) (2,171) (2,828)
(9,583) (11,028) (9,552)
Non-current liabilities
Lease liabilities (2,801) (2,686) (2,801)
Deferred tax liabilities (135) (127) (128)
Total liabilities (12,519) (13,841) (12,481)
Net assets 6,199 6,650 6,546
Equity
Share capital 146 146 146
Share premium 120 120 120
Capital redemption reserve 50 50 50
Own shares held (236) (236) (236)
Share based payment reserve 146 146 146
Profit and loss account 5,973 6,424 6,320
Total equity 6,199 6,650 6,546
Consolidated statement of cash flows:
Six-month period ended 30 June 2022 Unaudited Six-month period ended 30 June 2021 Unaudited Year ended 31 December 2021
Audited
£'000 £'000 £'000
Cash flows from operating activities
Profit before tax (406) 162 114
Adjustments for:
Depreciation, loss on disposal and amortisation 413 410 816
Finance expense 101 78 160
Employee equity settled share options charge - 210 210
Change in inventories 10 (1) (14)
Change in trade and other receivables (129) (1,680) (77)
Change in trade and other payables (504) (1,169) (3,271)
Cash outflow from operations (515) (1,990) (2,062)
Income tax paid - - (217)
Interest paid (101) (78) (160)
Net cash outflow from operating activities (616) (2,068) (2,439)
Cash flows from investing activities
Purchases of property, plant and equipment and intangibles (250) (120) (279)
Net cash used in investing activities (250) (120) (279)
Cash flows from financing activities
Movement on invoice discounting facility 823 1,280 2,231
Movement on perpetual bank overdrafts (104) (76) (370)
Amounts paid to cancel share options - (848) (745)
Payments of lease liabilities (118) (258) (279)
Net cash inflow from financing activities 601 98 837
Net decrease in cash and cash equivalents (265) (2,090) (1,881)
Cash and cash equivalents at beginning of period 946 2,827 2,827
Cash and cash equivalents at end of period 681 737 946
Notes to the interim statement for the six months ended 30 June 2022:
1. Accounting policies
a) General information
RTC Group Plc is incorporated and domiciled in
England and its shares are publicly traded on AIM. The registered office
address is The Derby Conference Centre, London Road, Derby, DE24 8UX. The
company's registered number is 02558971. The principal activities of the Group
are described in note 2.
The Board consider the principal risks and
uncertainties relating to the Group for the next six months to be the same as
detailed in our last Annual Report and Accounts to 31 December 2021.
b) Basis of preparation
The unaudited interim Group financial information of RTC Group Plc is for the
six months ended 30 June 2022 and does not comprise statutory accounts within
the meaning of S.435 of the Companies Act 2006. The unaudited interim Group
financial statements have been prepared in accordance with the AIM rules and
have not been reviewed by the Group's auditors. This report should be read in
conjunction with the Group's Annual Report and Accounts for the year ended 31
December 2021, which have been prepared in accordance with International
Accounting Standards in conformity with the requirements of the Companies Act
2006 and with those parts of the Companies Act 2006 applicable to companies
reporting under IFRS.
Going concern
The Group's current bank facilities include a net overdraft facility across
the Group of £50,000 and an invoice discounting facility with HSBC providing
of up to £12.0m, based on a percentage of good book debts, at a margin of
1.6% above base. The Board closely monitors the level of facility
utilisation and availability to ensure there is enough headroom to manage
current operations and support the growth of the business.
Given the after effect of the COVID pandemic, the increases in inflation, the
cost-of-living squeeze, and impacts on the economy of the events in Ukraine,
in addition to the established budgeting and forecasting processes, which
considers a range of plausible events and circumstances, a reverse stress test
has been undertaken. This shows that, assuming a continuation of the current
facilities, the Group has access to sufficient cash and facilities to
withstand a 30% reduction against the 2021 revenues without any significant
restructuring or other cost reduction measures.
In assessing the risks related to the continued availability of the current
facilities, the Board have taken into consideration the existing relationship
with HSBC and the strength of the security provided, and the quality of the
Group's customer base. Based on their enquiries, the Board have determined
that it remains appropriate to conclude that sufficient facilities will
continue to remain available to the Group and that the going concern basis of
preparation remains appropriate and that no material uncertainty exists. As a
result, the going concern basis continues to be appropriate in preparing the
interim results.
These unaudited interim Group financial statements
were approved for issue on 29 July 2022. No significant events, other than
those disclosed in this document, have occurred between 30 June 2022 and this
date.
c) Comparatives
The comparative figures for the year ended 31
December 2021 do not constitute statutory accounts within the meaning of S.435
of the Companies Act 2006, but they have been derived from the audited
financial statements for that year, which have been filed with the Registrar
of Companies. The report of the auditor was unqualified and did not contain a
statement under section 498 (2) or (3) of the Companies Act 2006 nor a
reference to any matters which the auditor drew attention by way of emphasis
of matter without qualifying their report.
d) Accounting policies
In preparing these interim financial statements, the Board have considered the
impact of new standards which will be applied in the 2022 Annual Report and
Accounts and there are not expected to be any changes in the accounting
policies compared to those applied at 31 December 2021.
A full description of accounting policies is contained with our 2021 Annual
Report and Accounts which is available on our website.
This interim announcement has been prepared in accordance with International
Accounting Standards in conformity with the requirements of the Companies Act
2006 and with those parts of the Companies Act 2006 applicable to companies
reporting under IFRS as effective for periods beginning on or after 1 January
2022.
2. Segment analysis
The business is split into three operating segments, with recruitment being
split by geographical area. This reflects the integrated approach to the
Group's recruitment business in the UK and independent delivery of overseas
business. Three operating segments have therefore been agreed, based on the
geography of the business unit: United Kingdom, International and Central
Services.
This is consistent with the reporting for management purposes, with the Group
organised into two reportable segments, Recruitment and Central Services,
which are strategic business units that offer different products and services.
They are managed separately because each segment has a different purpose
within the Group and requires different technologies and marketing
strategies.
Segment operating profit is the profit earned by each operating segment
defined above and is the measure reported to the Group's Board, the Group's
Chief Operating Decision Maker for performance management and resource
allocation purposes. The Group manages the trading performance of each segment
by monitoring operating contribution and centrally manages working capital,
financing, and equity.
Revenues within the recruitment operating segment have similar economic
characteristics and share a majority of the aggregation criteria set out in
IFRS 8:12 in particular the nature of the products and services, the type or
class of customers, the country in which the service is delivered, and the
processes utilised to deliver the services and the regulatory environment for
the services.
The purpose of the Central Services segment is to provide all central services
for the Group including the Group's head office facilities in Derby. It also
generates income from excess space at the Derby site including rental and
hotel and conferencing facilities.
During the first half of 2022, one customer in the UK Recruitment segment
contributed 10% or more of that segment's revenues being £9.3m (2021:
£14.8m) and one customer in the International Recruitment sector contributed
10% or more of that segment's revenues being £2.4m (2021:
£5.7m).
Revenue, gross profit, and operating profit delivery by geography for the
six-month period ended 30 June 2022:
£'000 UK International UK Total Group
Recruitment Recruitment Central
Services
Revenue 31,065 2,475 866 34,406
Cost of sales (26,321) (2,135) (396) (28,852)
Gross profit 4,744 340 470 5,554
Administrative expenses (3,933) (168) (1,345) (5,446)
Amortisation of intangibles (12) - - (12)
Depreciation of right of use assets (65) - (114) (179)
Depreciation (124) (3) (95) (222)
Total administrative expenses (4,134) (171) (1,554) (5,859)
Profit from operations 610 169 (1,084) 305
Segment profit from operations above represents the profit earned by each
segment without allocation of Group administration costs or finance costs.
Segment information for the six months ended 30 June 2021:
£'000 UK International UK Total Group
Recruitment Recruitment Central
Services
Revenue 34,196 5,951 344 40,491
Cost of sales (29,220) (5,368) (198) (34,786)
Gross profit 4,976 583 146 5,705
Other operating income* 213 - 98 311
Administrative expenses (3,540) (286) (1,540) (5,366)
Amortisation of intangibles (14) - - (14)
Depreciation of right of use assets (77) - (120) (197)
Depreciation (103) (2) (94) (199)
Total administrative expenses (3,521) (288) (1,656) (5,465)
Profit from operations 1,455 295 (1,510) 240
*Other operating income represents Government Grants in respect of the
Coronavirus Job Retention Scheme.
Segment information for the year ended 31 December 2021:
£'000 UK International UK Total Group
Recruitment Recruitment Central
Services
Revenue 66,842 1,279 9,594 77,715
Cost of sales (56,703) (622) (8,603) (65,928)
Gross profit 10,139 657 991 11,787
Other operating income* 213 138 - 351
Administrative expenses (7,240) (3,293) (519) (11,052)
Amortisation of intangibles (100) - - (100)
Depreciation of right of use assets (129) (239) - (368)
Depreciation (175) (165) (4) (344)
Total administrative expenses (7,431) (3,559) (523) (11,513)
Profit from operations 2,708 (2,902) 468 274
*Other operating income represents Government Grants in respect of the
Coronavirus Job Retention Scheme.
Recruitment revenues are generated from permanent and temporary recruitment
and long-term contracts for labour supply. Within Central Services revenues
are generated from the rental of excess space and hotel and conferencing at
the Derby site, described as Other below. Revenue and gross profit by
service classification for management purposes:
Revenue Six months ended 30 June 2022 (Unaudited) Six months ended 30 June 2021 (Unaudited) Year ended 31
December
2021
£'000 (Audited)
Permanent placements 1,414 964 2,098
Contract 32,126 39,183 74,338
Other 866 344 1,279
34,406 40,491 77,715
Gross profit Six months ended 30 June 2022 (Unaudited) Six months ended 30 June 2021 (Unaudited) Year ended 31 December
2021
(Audited)
£'000
Permanent placements 1,414 964 2,098
Contract 3,670 4,595 9,032
Other 470 146 657
5,554 5,705 11,787
3. Income tax
Continuing operations Six-month period ended 30 June 2022 (Unaudited) Six-month period Year ended 31
ended 30 June 2021 (Unaudited) December 2021
(Audited)
£'000 £'000 £'000
Analysis of tax:
Current tax
UK corporation tax (66) (71) (6)
Adjustment in respect of previous period - - -
(66) (71) (6)
Deferred tax
Origination and reversal of temporary differences 7 124 115
Tax (59) 53 109
Factors affecting the tax expense
The tax assessed for the six-month period ended 30 June 2022 is higher than
(2021: higher than) would be expected by multiplying profit by the standard
rate of corporation tax in the UK of 19% (2021: 19%).
The differences are explained below:
Six-month period ended 30 June 2022 Unaudited Six-month period ended 30 June 2021 Unaudited Year ended 31 December 2021
Audited
Factors affecting tax expense £'000 £'000 £'000
Result for the period before tax (406) 162 114
Profit multiplied by standard rate of tax of 19% (2021: 19%) (77) 31 22
Non-deductible expenses 18 22 68
Tax credit on exercise of options - - 28
Effect of change in deferred tax rate - - (9)
Tax charge for the period (59) 53 109
4. Earnings per share
The calculation of basic earnings per share is based on the earnings
attributable to ordinary shareholders divided by the weighted average number
of shares in issue during the year.
The calculation of diluted earnings per share is based on the basic earnings
per share adjusted to allow for all dilutive potential ordinary shares.
Basic Diluted
Six-month period ended 30 June 2022 Six-month period ended Six-month Six-month period ended
30 June 2021 period ended 30 June 2021
30 June 2022
Unaudited Unaudited Unaudited Unaudited
Earnings £'000 (347) 109 (347) 109
Basic weighted average number of shares 14,306,680 14,266,680 14,306,680 14,266,680
Dilutive effect of share options - - 266,885 301,859
Fully diluted weighted average number of shares - - 14,573,565 14,568,539
Earnings per share (pence) (2.43p) 0.76p (2.38p) 0.75p
5. Borrowings
Included in current borrowings are bank overdrafts and an invoice discounting
facility which is secured by a cross guarantee and debenture over all Group
companies. There have been no defaults or breaches of the terms of the
facility during the current or prior period.
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
or visit
www.rns.com (http://www.rns.com/)
.
RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
. END IR BLGDRRUDDGDIRecent news on RTC
See all newsREG - AIM - AIM Notice - 09/04/2024
AnnouncementREG - RTC Group PLC - Director Dealing, Share Buyback and Cancellation
AnnouncementREG - RTC Group PLC - Final results for the year ended 31 December 2023
AnnouncementREG - RTC Group PLC - Trading update and notice of results
AnnouncementREG - AIM - AIM Notice - 15/11/2023
Announcement