RPS Group, Europe's largest environmental consultancy, has reported a 32 per cent rise in pre-tax profits in the six months to June 30th and says "circumstances exist to allow good growth to continue".
The company said that, following a series of major acquisitions in the State in recent years, there was still significant opportunities to acquire new businesses in the Republic as well as in the British and Dutch markets.
Last month the company bought environmental engineering consultancy MC O'Sullivan for around €34.7 million, comprising an initial consideration of €17.9 million and a deferred payment of €16.8 million. Two years ago, it acquired EEL for €12.7 million, while last year it bought Dublin planning consultancy McHugh Consultants for €7 million.
Turnover in the six months to June 30th increased by 30 per cent to £47.2 million sterling (€75.2 million). Pre-tax profit was up 32 per cent to £8.49 million while earnings per share jumped by 22 per cent to £3.33.
RPS's Irish operations accounted for 29 per cent of the group's activity in the half.
The company cited the Republic's "low and declining tax rate" as a key factor contributing to a positive outlook for the group. It said concerns about clean drinking water supplies and waste water disposal, as well as high levels of infrastructure investment in Britain, the Republic and the Netherlands are set to drive the market.
