London professional services firm increases revenue by 26 per cent
A London professional services group has announced that its revenue rose by 26 per cent in 2019.
RBG Holdings, which owns law firm Rosenblatt, saw its revenue increase from £18.75m to £23.7m in the last financial year.
The company also reported an EBITDA of £9.4m, up 46 per cent from 2018’s £6.5m, and a profit after tax increase of 34 per cent, up to £6.2m from £4.6m.
During the year, the company also acquired investment bank Convex Capital.
Nicola Foulston, CEO of RBG Holdings, commented: “2019 was a big year for the group, not only in terms of our financial performance but also operationally.
“Rosenblatt continued to grow with the dispute resolution practice performing particularly well.
“In contrast, other practice areas such as our corporate division were more subdued due to the uncertain business environment caused by Brexit.
“We completed our first acquisition on excellent terms that we believe are in the best interests of shareholders.
“By acquiring Convex Capital, we have also diversified our income away from the legal sector while providing opportunities for cross-selling.
“The new financial year has been dominated by the COVID-19 crisis. I am delighted with how the business has quickly adapted.
“At this juncture, it is difficult to predict exactly how the group will fare this financial year, but we have a solid balance sheet, but also services that will be in demand.
“We are cautious but optimistic that the group will continue its positive progress over the coming months.”
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