FRP Advisory HY revenues up 32%

FRP Advisory has revealed that its revenues rose 32% to £77.6m for the half year ended 31 October 2024, compared with the same period last year.

Alongside this, the company’s underlying adjusted EBITDA was £22.3m, up 44% on the prior year.

As a result of this the firm expects to post revenue of £146.7m and adjusted EBITDA of £39.5m for the full year.

Furthermore, the firm’s revenue growth comprised 23% of organic growth and 9% of inorganic, the latter defined as an acquisition’s first 12 months’ contribution to the group.

During the half year, the company completed four acquisitions across three service pillars.

These included the acquisitions of Lexington Corporate Finance (based in Cardiff) and Williams Ali (based in Newcastle).

FRP also acquired The Hilton-Baird Group, which sits within the Debt Advisory Pillar.

In the period the firm completed a number of projects, most notably the sale of The Body Shop.

Geoff Rowley, CEO of FRP Advisory Group, said: “FRP has delivered another strong performance in the first half of the year, reporting increased revenue and profits. In line with our proven strategy, we continued to be acquisitive, strengthening the Group with four acquisitions across three of our service pillars.

“In doing so, we have enhanced our offering and are even better positioned to provide optimum solutions for our clients. I am confident that we will make further progress in the remainder of the year, as we support corporates through the entire business cycle.”