UK's RBG Holdings plummets on 2022 earnings outlook cut
05/12/2022 09:38
** Shares of UK-based legal services provider RBG Holdings
RBGP.L down as much as 34% at 55p
** Stock hits lowest level since Jan. 2021
** Sees adjusted EBITDA to be materially behind current
market consensus expectations for 2022 urn:newsml:reuters.com:*:nTUC9RSFCF
** Expects 2022 adjusted EBITDA to be in a range of between
11 mln pounds and 12 mln pounds ($13.5 mln-$14.8 mln)
** RBGP cuts estimates after its litigation finance unit
LionFish lost two of the cases that it has invested in
** Including session losses, stock has plunged ~53% YTD
($1 = 0.8137 pounds)
(Reporting by Amna Karimi in Bengaluru)
((Amna.Karimi@thomsonreuters.com; +91 8083261226;))