LONDON (ShareCast) - (Sharecast News) - Specialist business advisory firm FRP Advisory Group reported a 21% improvement in revenue in its full-year results on Friday, to £95.2m, with 11% organic growth and 10% inorganic.
The AIM-traded firm said its adjusted underlying EBITDA rose 12% in the 12 months ended 30 April to £25.7m.

Net cash at year-end totalled £18.1m, consisting of cash of £24.9m less a balance remaining on a term loan of £6.8m.

FRP paid total dividends of 4.3p for the 2022 financial year, up from 4.1p in 2021.

Those distributions were made up of three Interim dividends of 0.8p per share, and a final dividend of 1.9p for the year ended 30 April being recommended by the board.

"I am pleased to report another year of profitable growth - FRP is a resilient business, with a track record of growth regardless of the economic conditions," said chief executive officer Geoff Rowley.

"The UK merger and acquisition mid-market remains active, our corporate finance team has an excellent pipeline to help clients realise their strategic ambitions.

"Uncertainties still remain over how long troubled businesses can continue in their current form or how proactive key creditors like HMRC and institutional lenders will be in addressing overdue debts."

Rowley said that, following the removal of government support, inflationary pressures and other disruptive forces, the group had seen an increase in the level of enquiries for restructuring services in recent months.

"The group has a strong balance sheet and the Board believes the medium-term outlook for all the Group's markets is positive.

"Trading since 1 May is in line with the board's expectations."

At 1139 BST, shares in FRP Advisory Group were down 8.61% at 138p.

Reporting by Josh White at Sharecast.com.

Email this article to a friend

or share it with one of these popular networks:

• DIGG
• FACEBOOK
• STUMBLEUPON
• MIXX
• YAHOO BUZZ
• DELICIOUS
• REDDIT
• NEWSVINE