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Trading statements

RPC sees FY revenues significantly ahead

30 March 2017 07:25

RPC Group said revenues for FY 2017 were anticipated to be significantly ahead of last year, reflecting contributions from acquisitions and continued underlying organic growth.

"The Group's overall performance has been encouraging with the adjusted operating profit for the year ahead of management expectations," said the company in a pre-close trading statement.

RPC said its financial position remained robust, with good cash flow development.

Net proceeds of the rights issue announced in February had been received and, following completion of the Letica acquisition, the group retained significant headroom under its debt facilities.

These debt facilities included a new $750m multi-currency term-loan facility.

CEO Pim Vervaat was pleased with RPC's trading performance, and successful integration of acquired businesses.

"The board will continue to implement the Vision 2020 focused growth strategy, in which leading design and engineering capabilities create value in chosen market segments," said Vervaat.

"At the same time the Group is looking to grow selectively in a consolidating industry whilst further enhancing its strategic buying position."

Story provided by StockMarketWire.com

Related Company: RPC

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