Interpath operating profits jump to £20.2m

Interpath has recorded an operating profit of £26.9m, up £20.2m (301%) during its financial year ending 31 March 2024.

Its revenues also saw a 15% rise to £153.6m, up from £142.6m in the previous year.

The firm attributed this growth to its accelerated expansion of its global advisory capabilities, which generated revenues of £41.8m, a 55.4% rise against the previous financial year, and its broadened reach into new overseas markets.

The group’s EBITDA was also up 11.2% to £46.3m and over the course of the financial year, its restructuring capabilities also delivered revenues of £121.8m for the period, up 5.8% (FY 2023: £115.7m).

The expansion of Interpath’s global network remains fundamental to the group’s 2030 growth strategy. The firm’s headcount now stands at over 900 people, including 84 managing directors, across 21 locations in the UK, France, Ireland, BVI, Cayman, Bermuda and Algeria.

The release of the firm’s FY24 financial results comes as Interpath announces the appointment of Tamara Box as chair.

Box, an experienced non-executive director and a partner and the immediate past managing partner for EME at global law firm Reed Smith, has served on Interpath’s board since 2021.

She succeeds John Connolly who is stepping down from the role that he has held since Interpath was formed in May 2021.

Mark Raddan, CEO of Interpath, said: “This has been another landmark year for our business. Our continued investments into our people, our infrastructure and the expansion of our advisory services and international footprint have proven to be strong pillars for growth, with double digit increases in both revenue and profit.

“Above all, these results are testament to our exceptional people who continue to go above and beyond to help our clients navigate a challenging and unpredictable economic environment. Indeed, one of our many strengths is the way in which our teams come together to work collaboratively and collegiately, often across different service lines and different geographies, to deliver best-in-class client services to our clients. I’m incredibly proud of what we’ve achieved together over the past 12 months.”

Looking ahead Raddan added: “We continue to see strong momentum across the breadth of our business, with some recent sizable client wins, including for our new business in France, and a burgeoning pipeline.

“From a market perspective, I think we can be cautiously optimistic about the outlook for the year ahead. While we expect to see continued strong demand for restructuring services as organisations seek to untangle and unwind the impact of challenges faced in recent years, there are also signs that certain economic indicators are heading in the right direction, and growing anticipation of renewed activity to come across the global M&A market.

He concluded: “We remain supremely confident that we have the capabilities and experience to provide the advice, support and insights needed to help organisations navigate the road ahead, whatever the size and scale of the challenge and wherever they are in their lifecycle.”