TIDMRPS
RNS Number : 9696Q
RPS Group PLC
02 November 2021
For Immediate Release 2 November 2021
RPS Group plc
('RPS' or the 'Group')
Capital Markets Event / Capital Allocation Policy
'Well positioned for growth, solving problems that matter'
RPS, a leading multi-sector global professional services firm,
is hosting a virtual Capital Markets Event for investors and
analysts at 10.00am GMT today, Tuesday 2 November 2021, held via
its proprietary virtual consultation platform.
The event will provide a deep dive into some of the Group's key
specialisms and thematics, and will include presentations from a
range of RPS' senior management and divisional heads on areas
including Natural Resources and Energy, Urbanisation and Carbon,
and ESG and Sustainability.
Capital Allocation Policy
During the presentation Judith Cottrell, Group Finance Director,
will also outline the Group's new capital allocation policy. The
policy aims to maintain leverage within the Group's target range of
1x to 2x EBITDAS* through a disciplined approach to capital
allocation that creates sustainable shared value for all
stakeholders.
Key points of the new capital allocation policy:
-- Invest in organic fee growth
o Drive organic growth by allocating capital to strategic
initiatives to maximise organic fee growth opportunities
o Initiatives to be aligned with our strategic priorities and
our business model, hence capable of delivering sustainable 5%
organic fee growth and at least 10% operating margins
-- Use the Group's strong balance sheet to accelerate fee growth
with strategic bolt-on acquisitions that are cash generative and
value creating for RPS
o Invest in value creating M&A that is aligned with the
Group's overall growth strategy, that adds density not diversity,
and expands capability or adds capacity
o Utilise the Group's strong balance sheet to make acquisitions
using debt, not shares, in order to avoid dilution
-- Implement a sustainable dividend policy, returning to
industry norms in a thoughtful manner whilst retaining adequate
capital to invest in strategic acquisitions and organic growth
o Declare a modest absolute dividend in 2021
o Over time, increase the absolute dividend to a pay-out ratio
of c.30% of profit after tax before amortisation of intangibles and
transaction-related costs and the tax thereon
o In the medium-term, the Group is unlikely to consider share
buy backs
* Net debt/EBITDAS based on IAS17 excluding leases
No new material information further to the above will be
disclosed as part of today's presentation.
If you would like to join the event, please click here and
follow a simple registration process. A recording of the
presentation and all materials will also be made available to view
at the Group's website, www.rpsgroup.com/investors . For further
information on the Capital Markets Event, please contact Buchanan
at RPS@buchanan.uk.com .
- Ends -
For further information:
RPS
John Douglas, Chief Executive Tel: +44 (0) 1235 863 206
Judith Cottrell, Group Finance www.rpsgroup.com
Director
Media enquiries:
Buchanan
Henry Harrison-Topham / Chris Lane / Tel: +44 (0) 20 7466 5000
Tilly Abraham
RPS@buchanan.uk.com www.buchanan.uk.com
Notes to Editors
Founded in 1970, RPS is a leading global professional services
firm with proven ESG credentials. With c.5,000 consultants and
service providers and having operated in 125 countries across six
continents - RPS defines, designs, and manages projects that create
shared value for a complex, urbanising and resource-scarce
world.
Our three thematics - natural resources, urbanisation, and
sustainability - are specifically targeted to growth markets where
RPS delivers a broad range of services in six sectors: property,
energy, transport, water, defence and government services and
resources. Services provided across RPS' six sectors cover twelve
service clusters: project and program management, design and
development, water services, environment, advisory and management
consulting, exploration and development, planning and approvals,
health, safety and risk, oceans and coastal, laboratories, training
and communications, creative and digital services.
RPS stands out for its clients by using technology enabled
consulting, combined with deep expertise, to solve problems that
matter, making them easy to understand. Making complex easy.
RPS' London Stock Exchange ticker is RPS.L. For further
information, please visit www.rpsgroup.com
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