AIM:RTC · Industrials · AIM-listed UK recruitment/staffing services provider (white and blue-collar temporary and permanent labour)

RTC Group plc

RTC Group Plc is an AIM-listed recruitment business ('Connecting business and career ambitions') providing temporary and permanent white- and blue-collar labour. Its UK division operates through the Ganymede brand (rail, energy/utilities, manufacturing/engineering, water/environment, transportation, highways, construction) and the ATA brand (manufacturing/engineering technical recruitment), while its International division (GSS) provides contract and permanent staffing for overseas projects in sectors such as defence/NATO support, often in hostile or remote locations. The Group is headquartered at the Derby Conference Centre (DCC), which also generates rental and conferencing income from space not used by the Group.

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Sources: Companies House (10)

FY2026Next report expected 30 Mar 2027
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Sixty seconds on the FY2025 report
RTC Group supplies temporary and permanent staff to industries such as rail, energy and water, in the UK and abroad. In 2025 its revenue slipped to £95.5m from £96.8m. Profit before tax was £2.5m, the same as the year before. The report says higher employer's National Insurance and minimum wage costs held profit back. Without them, it says, profit would have grown by about 10%. The company made fewer permanent placements, which earn more per hire, but this was offset by growth in temporary and contract work. The overseas arm shrank after some contracts ended. Cash at the year end rose to £3.9m from £934k, and the group has no borrowings apart from leases. It spent £851k buying back its own shares and raised the dividend for the year to 6.71p from 6.1p. Management says 2026 has started positively but warns that the UK jobs market appears to be stagnating. The auditor's opinion is clean, with no doubt raised about the company's ability to keep trading.
From the reportevery line sits on the page it names
What drove revenue
Shift from permanent to contract/temporary placements amid a soft UK permanent recruitment market
White-collar ATA/Ganymede permanent activity fell 14% like-for-like in 2025, offset by 9% YoY growth in contract/temporary revenue and gross profit
page 5
And
UK rail infrastructure maintenance and renewals (Network Rail Control Period 7)
Rail division underpinned by long-standing prime-contractor client relationships; CP7 activity below initial expectations due to budget constraints but expected to improve as the period progresses
page 6
What moved the marginheadwind
Employer's NI and National Minimum Wage increases (2024 Budget)
Group absorbed higher employment costs; on a constant-cost (2024 NI) basis profit would have grown ~10%
page 4
Andheadwind
Mix shift from higher-margin permanent to lower-margin contract/temporary placements
14% LFL decline in permanent activity in white-collar arms, offset by 9% growth in contract/temp revenue and gross profit
page 5
What management said
Despite these challenging market conditions, 2026 has started positively and the underlying drivers of demand, especially across our infrastructure focused business, remain strong.
page 7
After the year end
There have been no significant events to report since the reporting date (31 December 2025) up to approval of the financial statements (20 March 2026)
page 20
The dividend
Progressive dividend policy. Interim dividend of 1.21p (2024: 1.1p) paid in year; final dividend for 2024 of 5.0p paid in year; proposed final dividend for 2025 of 5.5p (total 6.71p for the year, 2024: 6.10p), to be paid 26 June 2026 to shareholders registered 29 May 2026, not accrued at year end. Yield of 6.9% based on 31 Dec 2025 share price of 97.0p. If approved, total dividends returned over 2023-2025 will reach £2.4m.
page 13
Going concern and the audit
Unmodified/unqualified audit opinion issued by Cooper Parry Group Limited (Melanie Hopwell, Senior Statutory Auditor); financial statements give a true and fair view and are properly prepared under UK-adopted IFRS (Group) and FRS101 (Company). One key audit matter identified: revenue recognition (temporary placement accruals/contract assets); audit procedures identified no material misstatements. Group materiality £955,000 (1% of revenue); Company materiality £316,000. Directors concluded the going concern basis is appropriate based on 15-month trading/cash flow forecasts, no borrowings outside lease liabilities, an evergreen £12.0m invoice discounting facility with HSBC and a £50,000 overdraft facility; no material uncertainty identified by directors or auditor.
page 29
The risks it names first
The economic cycle and economic conditions (UK recession risk, Employment Rights Act, geopolitical events)p.11
Loss of key customers or large contractsp.11
Competition placing pressure on marginsp.11
Shortage of skilled candidates leading to lower margins and counter-offersp.11
Read from C001120-AR-2025-ch.
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