RTC Group* (RTC LN, BUY, T/P 95p) - 2017 Prelims | Adjusted PBT ahead of expectations
Adjusted PBT at £1.5m for the 12 months ended December 2017 represented growth of 22% and was ahead of our expectation of £1.4m. In turn, this supported dividend growth of 13% against an expected 6%. Net debt was £4.4m though allowing for an unwind in receivables of £1.5m in January 2018, the underlying net debt position represents a significant improvement on the December 2016 position.*Whitman Howard acts as corporate broker to RTC Group
RTC Group is a holding company. Through its subsidiaries, Co. is a recruitment business that focuses on white and blue-collar recruitment, providing temporary, permanent and contingent staff to a range of industries and clients in both domestic and international markets. Co.'s principal trading subsidiaries include: ATA Recruitment Limited, which supplies recruitment solutions to the engineering and technical sectors; Ganymede Solutions Limited, which is a provider of blue and white-collar skilled and semi-skilled labor, safety critical personnel and technical staff on call-off and temporary term contracts; and ATA Global Staffing Solutions Limited, which is a staffing solutions provider.
Whitman Howard is an independent institutional stockbroking and investment banking business focused on servicing the needs of our corporate clients and institutional investor base.
The company began trading in 2011 with a team of highly experienced market professionals and the goal of building a leading capital markets business in an entrepreneurial environment.
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