(Alliance News) - RBG Holdings PLC said on Friday it delivered on its upgraded expectations for 2021 as it noted rises in annual profit and revenue.
The London-based professional services company increased pretax profit by 25% in 2021 to GBP9.2 million from GBP7.4 million the previous year as revenue surged 87% to GBP42 million from GBP22.4 million.
RBG said its legal services revenue rose 56% in the year and was now more evenly split across Dispute Resolution at 36%, Corporate at 35% and Real Estate at 29%.
Chief Executive Nicola Foulston said: "Overall, the group has had an excellent twelve months which is reflected in our improved revenue and profit growth. With strong demand for all group services, we delivered the upgraded market expectations for the 2021 financial year from January's trading update.
"While acknowledging that macro-economic conditions continue to be volatile, the new financial year has started as expected giving us cause to look forward to the coming year with optimism. We are excited about the long-term prospects for the group."
For 2021, the company's dividend totalled 5 pence, up 67% from 3p the previous year. This, RBG commented, reflected its confidence in the company's continued prospects.
In the first quarter of 2022, RBG said its trading has been as expected. Historically, it explained, the Corporate business is quieter at this time of year; however the group said it was creating opportunities in other areas of the business at this time.
Shares in RBG were up 3.6% at 116.50 pence on Friday morning in London.
By Heather Rydings; heatherrydings@alliancenews.com
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Rbg Holdings (RBGP)