REG - FRP Advisory Grp PLC - Q3 Trading Update and Dividend Declaration

Frp AdvisoryAnnouncement

14/02/2024 07:00

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RNS Number : 0384D  FRP Advisory Group PLC  14 February 2024

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 (mailto: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.

 

 

 

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