Rtc Share Discussion Threads

[davidosh] 01/8/2023 10:32

Very sad news...

31 July 2023

RTC Group Plc

("RTC", "the Company" or "the Group")



Sudden death of Chairman



It is with great sadness that, RTC Group Plc (AIM: RTC.L), the engineering and technical recruitment Group, announces that its founder and chairman, Bill Douie, has died suddenly.



Further announcements will be made as required.



Andy Pendlebury, chief executive, said:



"It is with a very heavy heart that I am announcing the sudden death of Bill Douie, chairman of RTC Group Plc



Bill joined with Clive Chapman in 1992 to purchase an ailing ATA Selection business which subsequently became the RTC Group of today and Bill remained executive chairman until his sudden death.



Bill and I worked together on the Board of RTC Group for the last 16 years. Bill was a highly intellectual man with a passion for business and an immense knowledge of both global and domestic affairs.



His insights, support, and guidance have been invaluable to me as chief executive. His sense of humour and warmth as an individual have proved invaluable to me on a personal level.



Bill has been a pleasure to work with he will be sorely missed."

[hedgehog 100] 26/7/2023 18:53

Great results for RTC today, which bodes very well for PTY.

[blackhorse23] 26/7/2023 10:20

Switched to Hvo

[value hound] 26/7/2023 09:27

Yes - crazy share; had they proved themselves more trustworthy in the past, then 80-odd pps / £12m mkt cap would still be cheap IMO.

[davidosh] 26/7/2023 09:21

Very impressive and the return to payment of dividends is much appreciated too.

The order book is huge so if they simply perform in exactly the same way in H2 then RTC would have been on a p/e of 2 and 10% dividend yield at the opening price this morning.

I see no reason why they cannot return back to the 60p to 70p range they were in two years ago and pre pandemic

[balcony] 26/7/2023 08:41

Those figures look very impressive.

[davidosh] 26/7/2023 08:35

Worth putting them up here I think....

Interim Results for the Six Months Ended 30 June 2023



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 2023.



Summary:

· Group revenue from continuing operations increased 33% to £45.6m (2022: £34.4m);

· Contract revenues increased to £43.0m (2022: £32.1m) and a strong order book in excess of £200m;

· EBITDA increased by £1.5m to £1.6m (2022: £0.1m);

· Profit before tax increased by £1.4m to £1.0m (2022: loss of £0.4m);

· Net assets grew by £0.7m to £6.9m (2022: £6.2m);

· Net cash inflow from operating activities £2.1m (2022 outflow: £0.6m);

· No term debt; and

· Basic earnings per share 5.20p (2022: loss per share 2.43p).



No dividends were paid in the period (2022: Nil). The Directors propose an interim dividend of 1.0p per share (2022: Nil). The interim dividend will be paid on 1 September 2023 to shareholders on the register on 4 August 2023.

[tresham] 26/7/2023 08:21

They kept that quiet. Great results!

[davidosh] 31/5/2023 12:12

They used to hold the Agms in London so I have asked why the change especially as the chairman lives in Kent?

Anyone here attending in Derby?

No agm statement yet...

[strollingmolby] 31/5/2023 11:15

Last year's intra-day spike to 80p seems a very long time ago now... Hoping for some positive news from the AGM though they've not put out any snippets in recent AGM statements.

A reminder from the results in March: " 2022 was a year of two very contrasting halves for RTC Group. Like many other companies, the early part of the year continued to be impacted by the effects of covid. Additionally, the new maintenance and renewals contract with Network Rail which saw Ganymede Rail successfully awarded another long-term programme of work, was heavily biased towards upfront cost and investment activities. Whilst the combined effect of these two events impacted our first half profitability, the fundamental capabilities underpinning all our trading entities remained robust. The second half of the year saw much improved trading across the Group. With the exception of Ganymede Rail, all of our businesses enjoyed second half run rates last seen prior to the onset of covid in 2020.

Our overall financial position sees the Group with no long-term debt, a working capital facility with significant headroom for growth, and strong cash and treasury management supporting predominately blue chip and government backed clients. RTC Group has a strong balance sheet which hasn't necessitated any form of recapitalisation which befell many larger players in the sector and a very strong and lengthy order book with many leading clients across a number of our sectors. I believe we are well positioned to capitalise on growth opportunities as they emerge."

Let's hope those run rates have continued into H1.

[davidosh] 30/5/2023 18:22

Yes I am still here....Agm tomorrow but in Derby this year so cannot attend.

[goatman] 13/12/2022 13:00

I'm still in here! Are you still invested Davidosh?

Some years back I enjoyed some of your Mello Monday dinners at Sea Salt. Clearly covid would have stopped all that but I get wind that your Mello group wouldn't fit into the venue these days! Looking up the venue I see that Sea Salt is now permanently closed. A return to those monthly dinners would be great, but am I to assume that the Mello group is now too big for that sort of thing?

I'd be interested to know your views on this company in these bleak times.

Best regards,

G

[castleford tiger] 11/11/2022 18:00

Tiger still here hurting

[tresham] 29/7/2022 07:51

Not much profit. Market cap about £3.5m, net assets £6m. So some value.

[edmundshaw] 26/7/2022 15:37

Good luck @David. I am still out, but I hope this works out for you!

[davidosh] 26/7/2022 15:16

Any of you still in here with me? Interims should be out soon

[edmundshaw] 28/3/2022 08:58

I am out. I don't really feel comfortable holding this company anymore, and the lack of any profit warning before these results only increases my discomfort.

There seem multiple uncertainties about the prospects here, whereas I can find other companies with (in my view) a far better risk/reward profile right now. So taking the hit and moving on. Good luck to those who find value here.

[buywell3] 28/3/2022 08:38

Outlook

On a positive note, we remain confident that the present global medical emergency will eventually be put behind us, but we see limited signs of that at this time as we pin our hopes on science and vaccines.

Notwithstanding that expectation, the process of recovery as it comes is likely to suffer for some time from the aftershocks from these conditions and the inevitable re-shaping of human behaviour coupled with the continued efforts to reduce the carbon footprints of world energy production.

Of more importance, the requirement from Network Rail that we change all our areas of contract labour supply has already caused substantial changeover expense and disruption to the smooth running of this element of our business.

This has continued into the current year and is likely to have a material effect on our profitability in the first half of 2022.

Nonetheless, we believe that we have explored these matters fully and that we have a roadmap for successful trading in the years to come.

[buywell3] 28/3/2022 08:29

buywell3 5 Sep '19 - 16:17 - 1436 of 1692 Edit

Maybe not

Chart has 3 consecutive lower highs so down trend suggests IMO 40p retest

[tresham] 27/3/2022 11:09

Interims tomorrow

[edmundshaw] 09/2/2022 13:10

This is actually quite a fullsome trading update by RTC's standards, if a little later than expected.

As for recruiters flying, they are not a normal kind of recruiter, so not affected in the same way by market cycles as others. But hopefully the buoyant market will bodes well for replacement contracts for the NATO work lost.

[harrogate] 09/2/2022 13:01

I see they issue a trading update that has no real information. No revenue no profit number. Are they inline with estimates ? Seems poor. Recruiters generally have been flying in H2 2021 so don't really know what the tough environment is that this company operates in ?

[edmundshaw] 01/2/2022 09:24

They did give notice the update would be "on or about" 31st January IIRC. I feel that if things have been especially good we would have heard by now :((. So things probably chugging along undervalued or there is a hiccup. Given the latest pingdemic that would not be a total surprise (nor necessarily a particularly concerning one), but it would be nice to actually hear from the company.