FRP Advisory reports seventh consecutive year of revenue, profit growth

(Sharecast News) - FRP Advisory reported a seventh consecutive year of revenue and profit growth on Wednesday, with revenue rising 16% to £177.0m in the year ended 30 April and adjusted underlying EBITDA increasing 12% to £46.1m. Adjusted profit before tax grew 12% to £41.4m, while reported pre-tax profit increased 13% to £35.5m.

The AIM-traded business ended the year debt-free with net cash of £26.2m and increased its total dividend by 7% to 5.8p per share.

It said all five advisory divisions delivered growth, supported by 10% organic revenue growth and acquisitions including One Advisory and Arc & Co, which launched its new real estate advisory division.

FRP said trading at the start of the new financial year had been in line with expectations and it remained confident in its medium-term outlook, supported by continued demand for restructuring, corporate finance and advisory services.

At 1444 BST, shares in FRP Advisory Group were up 2.82% at 116.7p.

Reporting by Josh White for Sharecast.com.

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