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Published on: September 28, 2023

Signs of stabilisation

RBG has reported a solid set of H1 23 results for the six months to 30 June, with revenue impacted by the economic conditions but still delivering a positive adjusted EBITDA. Legal Services (RBGLS) has delivered a remarkably robust six months, and we believe that the group will benefit from its managerial and structural refocus back to the core services side of the business. The statement highlights that Convex performance in H2 will be key to delivery of full-year results. Clearly risks remain within our estimates, but we choose to leave our forecasts unchanged at this time.

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