• Group cash loss reduced
• Earnings accretive acquisition
• Deep discount to fair valuations
River Global (RVRG and RVRB), an asset management group previously known as AssetCo, has released maiden results since its demerger of Parmenion, a highly profitable B2B investment platform for the UK wealth and advisory sector. The ‘B’ shares (RVRB: 35p) represent the 30 per cent economic interest in Parmenion and the ‘A’ shares (RVRG:5.6p) relate to asset management activities.
In the six months to 31 March 2025, River Global came tantalising close to hitting cash break-even. Excluding exceptional charges of £1mn relating to a restructuring programme, the asset management business reduced its cash loss by almost half to £1.5mn on revenue of £6.1mn. The holding in Parmenion reported a 7 per cent higher adjusted cash profit of £1.3mn, so the consolidated group’s cash loss was only £0.2mn.
