RBG’s trading update this morning highlights two case losses and a £4.0m non-cash write-off within its LionFish subsidiary. Whilst this news is disappointing, the remainder of the Group is trading well and marginally ahead of previous expectations. Group earnings downgrades are significant (-46% for FY22 and -35% for FY23) with no further contribution from LionFish assumed. On reduced earnings, though, the shares are only trading on 10.6x FY23 P/E, an 18% discount to the peer group average of 13 ....
05 Dec 2022
LionFish losses offset Professional Services progress
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LionFish losses offset Professional Services progress
RBG Holdings Plc (RBGP:LON) | 12.2 -0.1 (-5.8%) | Mkt Cap: 15.8m
- Published:
05 Dec 2022 -
Author:
James Tetley -
Pages:
3
RBG’s trading update this morning highlights two case losses and a £4.0m non-cash write-off within its LionFish subsidiary. Whilst this news is disappointing, the remainder of the Group is trading well and marginally ahead of previous expectations. Group earnings downgrades are significant (-46% for FY22 and -35% for FY23) with no further contribution from LionFish assumed. On reduced earnings, though, the shares are only trading on 10.6x FY23 P/E, an 18% discount to the peer group average of 13 ....