RTC Group Plc Announces Results
RTC Group Plc, formerly ATA Group Plc, a support services group, providing recruitment, training and conferencing services, is pleased to announce its preliminary results for the year ended 31 December 2008.
Group operating profits before exceptional items of 533,000 (2007: 747,000).
Group pre-tax profits of 295,000 (2007: 746,000).
Underlying, fully diluted, earnings per share before exceptional items of 4.43p (2007:6.07p).
Dividends the Board believes that it would not be prudent to use financial resources to pay a dividend at this time. The dividend for the year therefore remains at 1.5 p per share (2007: 4.0p).
Recruitment made continued progress and achieved operating profits of 1,046,000 (2007: 849,000).
Training had a slow start with an improved second half performance and incurred operating losses of 130,000 (2007: profit 202,000).
Conferencing significantly grew its revenues and restructured its operations incurring operating losses of 383,000 (2007: loss 304,000).
Exceptional write down of goodwill given the uncertainty in the market place and the recent performance of the Training Division, an impairment charge of 250,000 has been recognised against the value of the goodwill relating to the training business (2007 : Nil)
Commenting on the results Bill Douie, Chairman, said: "There do not seem to be any real signs of reversal of the current downward momentum in world GDP and we must expect to experience difficult times in the short term. Against this background, we have continually assessed at board level the potentially damaging impact this could have both in terms of each of our individual businesses and on the Group as a whole. It should therefore be noted that we commenced 2009 with no borrowings and with cash in the bank.