The Works “Delivering In Line With Expectations” As Owner RXP Posts Weaker Profit Result

The Works “Delivering In Line With Expectations” As Owner RXP Posts Weaker Profit Result
SHARE
THIS



ASX-listed consulting firm RXP Services has seen its profit growth slide for the last financial year as it continues to rebalance its work mix.

In the 12 months to 30 June 2018, RXP delivered a net profit after tax of $7.8 million – down 33 per cent on its FY17 profit of $11.6 million.

RXP’s revenue grew three per cent during the 12-month period to $144.9 million, while the consulting firm’s earnings before interest, taxes, depreciation and amortisation dropped 29 per cent to $13 million.

RXP noted in a statement to shareholders that The Works – which it acquired last year – is “delivering in line with expectations and continues to win new client work, which provides further business development opportunities to the wider RXP group.”

“The acquisition of The Works has provided RXP with the opportunity to build upon its digital expertise,” the statement said.

“The company is pleased that The Works has integrated into the broader RXP business, providing RXP the ability to offer its clients seamless, end-to-end digital solutions.”

Ross Fielding, chief executive of RXP, said the company’s FY18 result was impacted by a faster than anticipated decline in traditional consulting work, particularly in the first eight months across two major clients.

However, Fielding noted that RXP was able to “successfully position the business to take advantage of the promising growth in our digital work”.

“The rebalancing of our work mix posed challenges to our business during FY18,” he said.

“However, we are confident that these have been dealt with and, with the strong momentum in our business, the outlook is positive.”

Please login with linkedin to comment

RXP RXP Services The Works

Latest News

Saatchi & Saatchi’s Donation Dollar Continues To Make Waves At Cannes Lions Live While More Aussie Agencies Secure Success
  • Advertising

Saatchi & Saatchi’s Donation Dollar Continues To Make Waves At Cannes Lions Live While More Aussie Agencies Secure Success

Cannes Lions has announced the winners in the second Awards Show of the week during Cannes Lions Live, which runs until June 25th. On day two, winners were celebrated in the Social & Influencer Lions, Media Lions, PR Lions, Direct Lions, Creative Strategy Lions and Creative Data Lions – all within the Reach Track, in […]

by B&T Magazine

B&T Magazine
Cresta’s Awards See Upturn As Ad Spend Starts To Return
  • Advertising

Cresta’s Awards See Upturn As Ad Spend Starts To Return

Cresta Awards has announced that despite having a few more weeks before entries close, this year’s Cresta Awards has surpassed its entries for the whole 2019 Season. Cresta sees this as evidence, not just of evolution in its own awards but of a wider measure of industry confidence and resilience in many markets. The awards […]

Ashley Madison Shifts From Shock To Female Empowerment
  • Media

Ashley Madison Shifts From Shock To Female Empowerment

Ashley Madison, the online dating site for married people famous for its shock advertising, is toning down the message, instead creating content aimed at empowering women with the message it’s fine to have an affair. Recently, B&T interviewed GroupM’s chief technology and transformation officer, Ryan Menezes. When asked what was the best brand he’d never […]

by B&T Magazine

B&T Magazine
72andSunny APAC CEO Chris Kay Named Saatchi & Saatchi UK CEO
  • Advertising

72andSunny APAC CEO Chris Kay Named Saatchi & Saatchi UK CEO

Saatchi & Saatchi UK has announced Chris Kay as its new CEO of the agency as Sam Hawkey leaves. Kay joins from 72andSunny where, for the past three and a half years, he was CEO for Asia Pacific and a global partner. Prior to moving to Australia to set up the APAC region’s Sydney and […]

Clems Melbourne Snares Charlotte Stevens To Head Myer Business
  • Advertising

Clems Melbourne Snares Charlotte Stevens To Head Myer Business

Clemenger BBDO Melbourne has announced Charlotte Stevens as group business director, leading the Myer account. Stevens is returning home to Australia following a decade in London, most of which was spent at Portas Agency. During her time in London, Stevens led Sainsbury’s fashion, homeware and beauty portfolios and worked across a range of retail accounts […]

Seattle, USA - Aug 19, 2019: The new Google building in the south lake union area at twilight.
  • Technology

Reports: Google Draws The Ire Of EU (Again)

B&T's editor takes great pleasure in an opportunity to use 'ire' in a headline, despite having no idea what it means.

by B&T Magazine

B&T Magazine
Young woman watching TV in the room
  • Partner Content

Household Targeting’s Role In The Cookieless Future

In this piece, Tim Sleath, VP of Product Management at VDX.tv, discusses household targeting’s role alongside other identity solutions and how advertisers can create an effective household strategy for their campaigns. As the advertising industry plans for the removal of third-party cookie support and moves toward adopting more privacy-centric solutions, marketers will need to identify […]

Partner Content

by B&T Magazine

B&T Magazine
Highsnobiety Partners With Citizens Of Culture To Help Lead Its Media Partnerships In Australia
  • Media

Highsnobiety Partners With Citizens Of Culture To Help Lead Its Media Partnerships In Australia

Culture-leading publisher Highsnobiety continues to evolve its local operations with the appointment of Citizens of Culture as its strategic partner across media operations within Australia.  Highsnobiety is a premium global brand dedicated to cultural pioneers, with work spanning across digital platforms, print media, documentaries, cutting edge events, a shopping platform and a full service creative […]

Witchery Partners With GlamCorner To Boost Subscription Shopping
  • Media

Witchery Partners With GlamCorner To Boost Subscription Shopping

Australian fashion brand Witchery has partnered with B Corp GlamCorner as part of GlamCorner’s subscription box offering as the demand for everyday essentials soars. This partnership marks another milestone for the Australian fashion industry towards becoming more circular and introducing more paths to reduce textile waste. Customers nationally will be able to rent more of […]