RTC Group shares drop after notice of business in Afghanistan, 1H results

RTC Group shares drop after notice of business in Afghanistan, 1H results

The company didn’t declare an interim dividend for the period. Chairman Bill Douie said the general economic environment remained very constrained and much of RTC’s business continued to be materially adversely affected. Write to Jaime Llinares Taboada at jaime.llinares@wsj.com; @JaimeLlinaresT

Shares at 0841 GMT were down 15% at 42.50 pence. “Replacing that revenue is a high priority and whilst the group continues to service other existing overseas contracts and secure replacement business, we must expect a period of lag in replacing this revenue,” RTC said.

In addition, RTC reported a pretax profit of 200,000 pounds ($274,960) for the first half of the year, in line with the same period of 2020. Revenue rose to GBP40.5 million from GBP39.9 million. The engineering and technical recruitment group said all NATO forces have been withdrawn from Afghanistan, heralding the end of RTC’s main business in that country.

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