Business
Final Results for the year ended December 2022
Final Results for the year ended December 2022.
About this update from Rtc Group Plc
[{"type":"text","content":"\n \n \n \n 27 March 2023\n \n \n \n \n \n \n \n \n \n Certain information contained within this Announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014 (\"MAR\") as applied in the United Kingdom. Upon publication of this Announcement, this information is now considered to be in the public domain.\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n RTC Group Plc\n \n \n \n \n \n \n \n \n \n (\"RTC\", \"the Company\" or \"the Group\")\n \n \n \n \n \n \n \n \n \n Final results for the year ended 31 December 2021\n \n \n \n \n \n \n RTC Group Plc (AIM: RTC.L) is pleased to announce its audited results for the year ended 31 December 2022.\n \n \n \n \n \n \n Highlights\n \n \n \n \n \n \n ·\n Group revenue from continuing operations £71.9m (2021: £77.7m).\n \n \n ·\n EBITDA £0.6m (2021: £1.1m).\n \n \n ·\n Improvement in cash generation from operating activities of £2.35m versus 2021.\n \n \n ·\n Net assets £6.2m (2021: £6.6m).\n \n \n ·\n Basic loss per share 2.45p (2021: earnings per share 0.04p).\n \n \n ·\n No final dividend is proposed. Total dividend in respect of the year to 31 December 2022: Nil (2021: Nil).\n \n \n \n \n \n \n \n \n Commenting on the results Andy Pendlebury, CEO said:\n \n \n \n \n \n \n \"\n \n 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.\n \n \n 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 gove...