Business
Trading Update and Q3 Dividend Declaration
Trading Update and Q3 Dividend Declaration.
About this update from Frp Advisory Group Plc
[{"type":"text","content":"\n \n \n 13 February 2023\n \n \n \n \n \n FRP Advisory Group plc\n \n \n \n \n \n (\"FRP\", the \"Group\" or the \"Company\")\n \n \n \n \n \n Trading Update\n \n and\n \n \n Q3 Dividend Declaration\n \n \n \n \n \n \n FRP Advisory Group plc,\n a leading national specialist business advisory firm,\n today announces a trading update for the nine months to 31 January 2023 and declares its Q3 quarterly dividend.\n \n \n Trading Performance\n \n \n The Board notes the continued progress made over the first nine months of the Group's financial year.\n \n \n \n FRP has now launched its Financial Advisory pillar, as explained in the Company's interim results, to sit alongside Restructuring, Corporate Finance, Forensic Services and Debt Advisory. The Financial Advisory pillar brings together the Group's existing transaction related services including financial due diligence, alongside its lender services, financial modelling, valuation services, pensions and company-side advisory services. There is a strong connection and collaboration across FRP's pillars to ensure the right team, from the right location are put forward in each project.\n \n \n \n \n \n As mentioned in the Company's interim results,\n the volume of work in the higher value restructuring and administration market is still to recover to pre-Covid levels and the Group expects to see increased activity in these areas during 2023. The Group has seen an increase in the number of liquidation mandates in line with the widely reported increase in the overall number of insolvencies for companies during 2022. The Group continues to make progress in the provision of advisory services and has been engaged in many confidential advisory projects, including some linked to our membership of Eight International. As the challenges facing Corporates continue, including ongoing inflationary pressures and increased costs of borrowing, the number of enquiries into FRP for restructuring assignments continues to rise. FRP's Corporate Finance team remains active in its core UK mid-market and has a strong pipeline. Based on year-to-date trading, the Board expects to be broadly in line with consensus FY 2023 revenue and adjusted EBITDA2 expectations1, with the outcome subject to the timing of completion of several FRP Corporate Finance transa...