A prospective 9.8x FY16 PER (materially below pure legal quoted peer, Gateley) is supported by a well covered 3.7% yield. Forecasts are based upon conservative assumptions: lower than anticipated savings and synergies from recent acquisitions, no further additions to the group complement and further pressure on IVA/DM markets. We also see potential for better than expected growth in legal services revenues over the forecast period. The group’s robust finances, including access to long t
16 Nov 2015
Resilient model offers much more growth
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Resilient model offers much more growth
FRP Advisory Group Plc (FRP:LON) | 121 0 0.0% | Mkt Cap: 304.2m
- Published:
16 Nov 2015 -
Author:
Roger Leboff -
Pages:
8
A prospective 9.8x FY16 PER (materially below pure legal quoted peer, Gateley) is supported by a well covered 3.7% yield. Forecasts are based upon conservative assumptions: lower than anticipated savings and synergies from recent acquisitions, no further additions to the group complement and further pressure on IVA/DM markets. We also see potential for better than expected growth in legal services revenues over the forecast period. The group’s robust finances, including access to long t