- Revenue and litigation gains surge 53 per cent to £18.3m and pre-tax profit up 279 per cent to £3.9m in first half.
- Free cash flow of £2.2m.
- Convex Capital earns £5m fees on eight deals and is working on another 36 transactions.
RBG (RBGP:147p), a professional services group that is building one of London’s mid-tier law firms (Rosenblatt and Memery Capital), and has a successful litigation funding arm LionFish and sell-side corporate finance boutique Convex Capital, is firing on all cylinders.
In the first half, Convex Capital completed eight deals and earned £5m (£0.3m in first half of 2020) in fees as mergers & acquisition (M&A) activity recovered strongly. Deal flow remains robust as SME owners look to cash in and crystallise healthy valuations. In fact, Convex’s 13 deal makers are working on 36 active deals of which nine are at various stages of completion. House broker N+1 Singer is factoring in £7m revenue contribution from Convex in its full-year forecasts, but the risk is skewed to the upside.