(Sharecast News) – RTC Group said it would post a small annual profit despite the heavy impact of the Covid-19 crisis on the recruitment and conferences company.
The company, which specialises in engineering recruitment in the Midlands and north of England, said trading was very tough in the second half of 2020 but that it was hopeful about results for the current year. RTC also has an international recruitment business and a hotel and conference centre in Derby.
The AIM-traded company’s shares fell 10.1% to 40p at 10:33 GMT.
Chairman Bill Douie said: “The performance of the group in an extraordinarily challenging year has been satisfactory and both the net debt and cash position is sound. In spite of the difficult economic environment, I remain cautiously confident of our ability to deliver continued positive results in 2021 in all areas of our business.”
Profit from operations was £2m in 2019. In the first half of 2020 profit fell to £0.3m from £0.8m as the Covid-19 crisis hit UK recruitment for smart meter installations and infrastructure and railway projects. The company said it was not planning to pay a dividend for 2020.
RTC’s results for the year to the end of December are scheduled for 22 February or close to that date.
