14 February 2024
FRP Advisory Group plc
("FRP", the "Group" or the "Company")
Q3 Trading Update and Dividend Declaration
FRP Advisory Group plc, a leading national specialist business advisory firm, today announces a trading update for the nine months to 31 January 2024 and declares its Q3 dividend.
Trading Performance
The Board notes the progress made by the Group over the first nine months of the financial year ending 30 April 2024 ("FY 2024"). The Board also considers that current trading activity levels are in line with achieving market expectations.*
The Group expects to announce a trading update for FY 2024, in mid-May 2024.
Quarterly Dividend
The Group has a strong balance sheet and net cash position. In line with its stated dividend policy, the Board declares a dividend for the third quarter ended 31 January 2024 of 0.9p per eligible ordinary share. This dividend will be paid on 14 June 2024 to shareholders on the register at 17 May 2024, with the ex-dividend date being 16 May 2024.
*The Board believes consensus market expectations for FY 2024 to be revenue of £123m and adjusted EBITDA of £32m.
Enquiries:
FRP Advisory Group plc
Geoff Rowley, CEO
Jeremy French, COO
Gavin Jones, CFO
Enquiries via MHP
Cavendish Capital Markets Limited (Nominated Adviser and Joint Broker)
Katy Birkin/Stephen Keys/George Lawson (Corporate Finance)
Tel: +44 (0) 207 220 0500
Investec Bank plc (Joint Broker)
Carlton Nelson / James Rudd (Corporate Broking)
Tel: +44 (0) 207 597 4000
MHP (Financial Public Relations)
Oliver Hughes
Charlie Barker
Catherine Chapman
Tel: +44 (0) 783 462 3818
Notes to Editors
FRP is a leading national specialist business advisory firm established in 2010. It offers a range of advisory services to companies, lenders, investors and other stakeholders, as well as individuals. These services include:
§ Restructuring advisory: corporate financial advisory, formal insolvency appointments, informal restructuring advisory, personal insolvency and general advice to all stakeholders.
§ Corporate finance: mergers & acquisitions (M&A), strategic advisory and valuations, financial due diligence, capital raising, special situations M&A and partial exits.
§ Debt advisory: raising and refinancing debt, debt amendments and extensions, restructuring debt, asset based lending and corporate and leveraged debt advisory.
§ Forensic services: forensic investigations, compliance and risk advisory, dispute services and forensic technology.
§ Financial advisory: transaction services including financial due diligence, lender services, financial modelling, valuations, pensions and company-side advisory services.
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