Rps Share Discussion Threads

[norbert colon] 09/8/2022 08:21

Yep certainly - if you look at the history of M&A in this sector (Sweett, Hyder etc) I'd say there is a possibility for sure.

[mrtennessee] 09/8/2022 08:14

Does anyone think that a counter-offer could come in at £2.20/share? It would be good to see some competition for this.

[hardupfedup] 09/8/2022 08:03

excellent wake up this morning

[dr biotech] 09/8/2022 07:40

Can’t argue with the price, particularly with uncertain times ahead. Hope the staff are well looked after given a close friend works there. Was only a small holding for me when I bought at 37p, will be my largest individual holding at the offer price.

Well done to all.

[18bt] 09/8/2022 07:21

Another British engineering consultancy taken over by the US - but happy with the price. The interims show the progress RPS is making and year end forecasts would have been upgraded. Where to put the cash?

[norbert colon] 08/8/2022 22:39

https://www.wsp.com/en-GL/investors/press-releases/details/WSP-to-Acquire-RPS-Further-Accelerating-the-Execution-of-Its-20222024-Global-Strategic-Action-Plan/2494367/2022Happy days!!

[norbert colon] 05/8/2022 08:26

https://www.investormeetcompany.com/investor/company/rps-group-plc

[norbert colon] 28/7/2022 22:05

https://statements.qld.gov.au/statements/95851Nice project undertaken by RPS PM team in Aus.

[norbert colon] 27/7/2022 16:39

https://www.arcadis.com/en/news/global/2022/7/arcadis-and-ibi-group-have-entered-into-an-agreementFurther sector M&A with IBI acquired for 2 x sales and 13 x adj EBITDASay no more re: RPS valuation currently....!

[ny boy] 24/6/2022 08:15

Strong, clearly under valued on that update, buy the dips Sir!

[battlebus2] 24/6/2022 08:12

Yes 👏. Brilliant update to

[18bt] 24/6/2022 07:18

A strong update - market forecasts are for a fall of 10.3% in revenue in 2022 albeit some of that will be a reduction in pass through costs, so a 12% growth albeit in the first 5 months only is a big turnaround. More than justifies the increase of the last day or so. Not a huge amount about costs and staff retention. This willl have it's headwinds, but is well positioned in its markets. I'm not entirely clear which margin has increased by 1% but assume that it is the adjusted operating profit/revenue less passthrough costs, which is what they use in the accounts. The half year last year had a margin on that basis of 5.6% (5.9% for the full year) and so that appears to add another £2.1m of operating profit for 5 months or £5.2m for the year assuming the full year revenue is up 10%/ To put that in context, adjusted operating profit was £28.3m for 2021 full year - so that seems to guide to a 18%+ increase in op. profit.

[hardupfedup] 23/6/2022 15:42

large volume today

[battlebus2] 21/6/2022 09:05

Hopefully it stays up. Could just be those flurry of AT trades but I’d love to see some good news whether on the M&A front or continued progress.

[hardupfedup] 21/6/2022 08:31

price is up -- this morning

[norbert colon] 15/6/2022 12:06

Not sure if anyone saw my tweets recently or otherwise saw the news that WSP Global have acquired the E&I business from Wood Group.

WSP have paid 14x EBITDA or 2.3x sales for this business (6000’staff) and it comes off the back of various other high multiple deals in the sector over the last 12 months incl:

Stantec acquisition of Cardno (1.43 x sales)
CBRE acquisition of T&T (2.15 x sales)

With RPS having f/c sales for FY22 of £520m, similar PS multiples would derive a valuation for RPS of £750m to £1b. 14x f/c EBITDA equates to a similar valuation of £800m.

With governments globally now even more focussed on energy, environment, water and ESG etc, the likes of RPS have some great long term tail winds.

Equally, when you look at the strategic plans of the likes of WSP and TetraTech etc they are very ambitious re: scale, expertise and headcount and this will largely continue to come from M&A.

At £290m mcap, RPS is clearly undervalued compared to its peer group and with 5000 staff based in areas that that their peer group want to add scale (North America, Australia, UK/Europe), I will continue to watch for newsflow in anticipation of a bid becoming more of a reality as each month passes.

[norbert colon] 04/5/2022 21:37

Some useful slides in here from TTEK Q2 numbers showing the sector tailwinds that RPS is also benefitting from: https://s24.q4cdn.com/602452630/files/doc_financials/2022/q2/Q2-2022-Earnings-Conference.pdf

[battlebus2] 27/4/2022 07:58

Yes, the outlook in all areas seems positive 👍

[18bt] 27/4/2022 07:53

Their energy business has been overlooked. Well placed.

[norbert colon] 20/4/2022 20:28

This is also encouraging newshttps://www.rpsgroup.com/company/news/rps-renewables-infrastructure-team-in-scotland-is-expanding/

[norbert colon] 20/4/2022 20:02

RPS get a mention...https://www.voxmarkets.co.uk/articles/singer-capital-markets-monthly-macro-update-april-2022-8bd7c94/

[calton1] 10/2/2022 07:19

Sorry Cassini - I do not follow your English. What are you saying exactly?
Am I wrong in thinking RPS is perfectly positioned for a considerable recovery?

[cassini] 09/2/2022 21:58

Because it's the everything bounce. Filtered for being mannerless though...

[calton1] 09/2/2022 18:25

OK Wiseacres - why the bounce today?