FRP Advisory revenues up 19% to £152.2m in FY25

FRP Advisory has reported a 19% rise in revenues to £152.2m for the year ended 30 April 2025, driven by 11% organic and 8% inorganic growth across all five service pillars.

The group’s adjusted underlying EBITDA rose 11% to £41.3m, while reported profit before tax increased 5% to £31.3m.

Its average revenue per partner remained flat at £1.4m. However, its overall team grew 21% year on year, with 138 additional staff taking the total headcount to 795 (2024: 657).

Growth was attributed to demand-led lateral hiring and five acquisitions, which added 70 staff.

As of 30 April 2025, FRP had 108 partners (2024: 92), 518 other fee earners (2024: 430) and 169 support staff (2024: 135). Its UK presence covered 31 locations (2024: 27), along with international and offshore offices in Cyprus and the Isle of Man.

Seven colleagues were promoted to partner during the year across different locations and service lines.

The firm’s restructuring team remained the most active in the UK administration appointment market.

Additionally, its corporate finance and debt advisory teams completed 76 transactions (2024: 76), with total deal value rising to £1.5bn (2024: £1.4bn) and £500m of debt raised (2024: £600m). The forensic services team also remained active across a high number of confidential transactions.

Geoff Rowley, chief executive of FRP Advisory Group, said: “This is another strong set of results, reflecting the strength of FRP’s well-proven strategy, breadth of our offer and the tireless efforts of our talented people.

“Despite persistent economic uncertainty, which has been compounded by increasing geopolitical turmoil, we saw positive contributions across all five of our service pillars, facilitating the delivery of strong organic revenue growth complemented by a positive contribution from acquisitions which are all integrating well.”

Rowley added: “We continued to deliver for our clients, supporting them through the entire corporate lifecycle by staying focused on the basics and providing honest, clear, and considered advice.

“We also expanded our teams, both through demand-led lateral hiring and via the acquisitions we completed during the year. Our exceptional people remain our most valuable asset and instrumental to achieving our goals, and we remain deeply committed to investing in our talent.”

He concluded: “FRP remains well placed to serve our clients, with both the resources and agility to respond quickly to demand trends as they emerge. Trading in the first few months of the new financial year has been positive, and in line with the board’s expectations.”