Scottish-headquartered RSE has released its financial statements to March 2023, announcing £198 million of revenue, 71% higher than the previous year (£115 million).
20% of RSE’s growth was attributable to acquisitions, with the remaining 80% achieved organically.
Operating profit also increased to £14 million compared to £6.5 million in the prior year.
During the financial year, RSE - which has offices across the UK, including in Aberdeen, Bath, Bristol, Glasgow, Darlington, Leeds, Nottingham and London - acquired three specialist companies - DPS (Glenrothes), Greenacre (Dewsbury) and GPS (Bristol), adding to RSE’s regional hubs as well as enhancing the company’s technology differentiation.
Iain MacGregor, RSE’s Executive Director, commented:
“We have a strategy to modernise the water sector by pioneering new technology into factory-built and standardised water treatment facilities. This approach has proven to reduce construction schedules, enhance quality, provide greater cost certainty and have a positive impact on the environment. The growth in the year was attributable to growing established markets in Scotland and opening new markets in England, increasing demand for our products and solutions.”
During 2023 RSE attracted investment from growth capital specialists MML Capital Partners. The business also announced the appointment of new executives Stephen Slessor (CEO) and Murray Tinning (CFO), to start in January 2024. Complemented by existing owners and management, the new partnerships are expected to accelerate future growth to meet demand in new municipal and industrial markets.
The clean water technology company develops market leading products and solutions for purifying drinking water, recycling waste water and cleaning water in industrial processes.
Amongst its portfolio of live projects is Hampton Loade in South Staffordshire, where RSE has been engaged by South Staffs Water to design, build, install, and commission the world’s largest ceramic membrane plant at Hampton Loade Water Treatment Works (WTW), part of a £57 million pioneering refurbishment project. When complete the plant will be the world’s largest ceramic membrane facility for purifying water, developed twice as fast as a traditional plant with lower carbon footprint and complete cost certainty.
RSE said its product development and modular solutions have “industry shifting potential” for customers’ net zero targets. Offsite manufactured and standardised solutions are reducing customer energy consumption, minimising material waste and removing CO2 intensive materials from customer operations.