AGM Statement and Q1 Dividend Declaration

RNS Number : 5001Z

FRP Advisory Group PLC

15 September 2022

 

15 September 2022

FRP Advisory Group plc

("FRP", the "Company" or the "Group")

AGM Statement and Q1 Dividend Declaration

FRP Advisory Group plc, a leading UK specialist business advisory firm is today holding its Annual General Meeting. Nigel Guy, Non-Executive Chairman, will make the following statement:

"Continuing the trend reported in our Full Year Results announcement on 22 July 2022, we have seen an increase in the level of enquiries for restructuring services. Businesses have seen the last of the COVID support measures fall away, and the economy is experiencing significant inflationary pressure and other disruptive forces. Against that backdrop, there remains uncertainty as to how proactive key creditors like HMRC and institutional lenders will be on addressing overdue debts.

FRP Corporate Finance's position within the mid-market, typically advising on transactions up to c.£100m, remains strong. The deal pipeline and general level of enquiries continue to demonstrate the strength of the Corporate Finance and Debt Advisory pillars.

Overall trading in our current financial year, from 1 May 2022 to date, remains in line with the Board's expectations. FRP is a resilient business, with a track record of growth regardless of economic conditions. We have a strong balance sheet and a structure that provides a good level of flexibility in our internal capacity nationally, allowing us to be well positioned to service an increase in demand for our advice from diversified sources.

In line with the Company's quarterly dividend policy, the Board is pleased to declare an interim dividend of 0.85p per eligible ordinary share for the first quarter ended 31 July 2022 (Q1 FY 2023). The dividend will be paid on 23 December 2022 to shareholders on the register on 25 November 2022, with the ex-dividend date being 24 November 2022.

The Company expects to announce a trading update covering the first half to 31 October 2022 in mid-November 2022."

Enquiries:

FRP Advisory Group plc 

Geoff Rowley, CEO

Jeremy French, COO

Gavin Jones, CFO

Enquiries via MHP

Cenkos Securities plc (Nominated Adviser and Sole Broker)

Katy Birkin/Max Gould (Corporate Finance)

Alex Pollen (Sales)

Tel: [phone]

MHP Communications (Financial Public Relations)

Oliver Hughes

Charlie Barker

Pete Lambie

Tel: [phone]

[e-mail]  

Notes to Editors

FRP is a professional services firm established in 2010 which offers a range of advisory services to companies, lenders, investors and other stakeholders, as well as individuals. These services include:

§ Restructuring advisory: corporate financial advisory, formal insolvency appointments, informal restructuring advisory, personal insolvency and general advice to all stakeholders.

§ Corporate finance: mergers & acquisitions (M&A), strategic advisory and valuations, financial due diligence, capital raising, special situations M&A and partial exits.

§ Debt advisory: raising and refinancing debt, debt amendments and extensions, restructuring debt, asset based lending and corporate and leveraged debt advisory.

§ Forensic services: forensic investigations, compliance and risk advisory, dispute services and forensic technology.

§ Pensions advisory: pension scheme transaction advisory, pension scheme restructuring advisory, covenant advisory and corporate governance

 

END

 

 

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