The resources downturn in Australia and currency headwinds slowed growth at engineering consultancy RPS (RPS) in the first half of 2014. Margins in the core energy division, which serves the oil and gas industry, were also impacted by a very weak Canadian potash sector and some delays to investment in the Middle East, given the latest outbreak of regional conflict.
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Otherwise, however, the company performed resiliently, growing profit before tax - adjusted for forex movements, amortisation of acquired intangibles and acquisition-related costs - by 11 per cent. That allowed the board to approve a 15 per cent hike in the interim dividend for the 21st consecutive year.
