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
FRP@mhpgroup.com
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.