Frenkel Topping Group PLC on Monday said it anticipates reporting full-year results in line with management expectations as it noted ‘continued positive momentum’ in the new year.

The Manchester, England-based specialist financial and professional services firm that operates within the personal injury and clinical negligence marketplace said it expects revenue to grow 14% to £37.4 million in 2024 from £32.8 million in 2023.

Recurring revenue is expected to grow by 12% to £13.4 million from £12.0 million and adjusted earnings before interest, tax, depreciation and amortisation are anticipated to remain flat at £8.0 million.

Frenkel Topping noted that operational progress continued in the second half of the year as the firm focused on integration.

Challenges associated with Partners In Cost throughout 2024 have been addressed through strategic appointments and optimising key business processes, said the firm, with it now confident that PIC can handle its increased workload.

Funds under management are anticipated to rise by 17% to £1.56 billion from £1.34 billion, with Frenkel Topping stating that its progression ‘continued as expected in the second half’.

Shares in Frenkel Topping were down 0.3% at 35.40 pence on Monday afternoon in London.

Looking to the new financial year, the firm noted that January has seen ‘continued positive momentum’ with a ‘strong pipeline of new AUM opportunities being pursued’, giving the firm confidence for the period.

It added that it is ‘confident that [it] can continue to deliver growth in shareholder value in the years ahead.’

However, it did acknowledge the likely cost of the recent government budget in October, estimating that the impact of the national insurance increase coupled with the rise in the national minimum wage would be approximately £360,000 in 2025 and around £500,000 thereafter on an annualised basis.

Frenkel Topping said: ‘The board will work hard to mitigate this external headwind as far as possible through pricing and technology efficiencies.’

Copyright 2025 Alliance News Ltd. All Rights Reserved.