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RPS Group Q3 Fee Revenue Declines

RPS Group plc (RPS.L) reported a third-quarter fee revenue of £109.0 million compared to £132.0 million reported last year.

The company noted that it now has available a £160.0 million Revolving Credit Facility or RCF until July 2022 as well as the US private placement notes of circa £56.0 million.

RPS continues to have significant liquidity and substantial headroom related to the committed bank facilities of £160.0 million at September 30, 2020 in addition to cash available of £22.6 million at that date.

John Douglas, Chief Executive of RPS, said, "Our performance in Q3-2020 is consistent with our expectations at the half year and RPS is now starting to benefit as market conditions show some improvement."

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