Rosenblatt Group PLC Trading and Dividend Update (4545H)
August 01 2019 - 2:00AM
UK Regulatory
TIDMRBGP
RNS Number : 4545H
Rosenblatt Group PLC
01 August 2019
1 August 2019
Rosenblatt Group plc
("Rosenblatt", the "Company" or the "Group")
Trading and Dividend Update
Rosenblatt Group plc (AIM: RBGP), the professional services
group, is pleased to announce the following trading update ahead of
the publication of its interim results for the six months ended 30
June 2019 on 25 September 2019.
The Group is performing well and delivering year on year growth
at high net margins. The Group's financial year is typically
second-half weighted and it is expected that marginally more
revenue will be recognised in the second half of the year. The
Group expects to report full-year results in line with market
expectations.
In terms of the Group's divisional performance, the trends
reported at the time of the Company's full-year results for the
year ended 31 December 2018 have continued.
The Group's main practice areas, which are focused on
contentious law, namely Dispute Resolution and Employment, have
continued to perform well. The number of litigation cases that the
Group is working on is growing, especially those undertaken on a
contingent basis, from which the Group can receive a high rate of
return if successful.
As previously flagged, the Corporate division, which is focused
on commercial transactions, remains impacted by the cautious
business environment in part caused by Brexit uncertainty. When
this uncertainty clears, the indications are that there will be an
increase in the volume of transactions, which have been delayed,
including M&A from which the Group will benefit.
The Group continues to make progress in terms of establishing
its litigation funding arm. There are currently four cases under
consideration for funding and seven in progress. The Group has
started to successfully realise revenues from the sale of partial
participation rights in its litigation assets to third parties as
part of the Board's policy of generating returns from these assets
while limiting its risk exposure to individual cases.
At the interim results, the Group expects to update investors on
the accounting methodology that will be used to account for these
cases on the balance sheet.
The Company's balance sheet remains strong. In line with the
Group's dividend policy, the Company intends to pay an interim
dividend for the six months to 30 June 2019 of 2p per share. This
sum will be formally announced on 25 September 2019 and will be
paid to shareholders on the register as at 4 October 2019.
Enquiries:
Rosenblatt Group plc Via Newgate Communications
Nicola Foulston, CEO
Stifel (Nominated Adviser and Broker) Tel: +44 (0)20 7710
7600
Gareth Hunt
Stewart Wallace (QE)
Tom Marsh
Newgate Communications (for media enquiries) Tel: +44 (0)20 3757
Robin Tozer/Fiona Norman 6880; rosenblatt@newgatecomms.com
About Rosenblatt Group plc
Rosenblatt Group plc is a professional services group, which
includes one of the UK's leading dispute resolution practices. It
provides a range of legal services to its diversified client base,
which includes companies, banks, entrepreneurs and individuals.
Complementing this is the Group's increasingly international
footprint, advising on complex cross-jurisdictional cases in China,
Israel, America and India. Rosenblatt's practice areas include
dispute resolution, corporate, banking and finance, insolvency and
financial restructuring, construction and projects, employment,
financial services, IP/technology/media, real estate, regulatory
and tax resolution.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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