RBG Holdings Plc (GB:RBGP) has released an update.
RBG Holdings plc has reported a challenging first half of 2024, with a decrease in revenue to £18.4m and significant losses, including a £5.7m loss before tax, attributed to a quieter May and June impacted by the General Election and non-recurring restructuring costs. The company has undertaken cost-cutting measures, including disposing of Convex Capital and reducing its property costs, expected to save £4.5m annually. Despite a robust July, the Board anticipates the full-year performance to fall significantly below market expectations.
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