FRP has released a very positive FY22E trading update in which it expects revenue would be £95.2m (+21% YoY; we had forecast £88.6m) and Adj EBITDA would be £25.7m – up 12% YoY and comfortably ahead of our £24.2m forecast. Given that the UK administrations market declined 22% YoY in FY22E (as Government support measures offered a temporary lifeline to many businesses), we see this as an excellent performance, which demonstrates FRP's resilient ability to grow throughout economic cycles. With bus ....

17 May 2022
Cenkos: FRP Advisory Group Plc -- Trading ahead of expectations

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Cenkos: FRP Advisory Group Plc -- Trading ahead of expectations
FRP Advisory Group Plc (FRP:LON) | 126 8.8 5.9% | Mkt Cap: 324.9m
- Published:
17 May 2022 -
Author:
Peter Renton -
Pages:
19 -
FRP has released a very positive FY22E trading update in which it expects revenue would be £95.2m (+21% YoY; we had forecast £88.6m) and Adj EBITDA would be £25.7m – up 12% YoY and comfortably ahead of our £24.2m forecast. Given that the UK administrations market declined 22% YoY in FY22E (as Government support measures offered a temporary lifeline to many businesses), we see this as an excellent performance, which demonstrates FRP's resilient ability to grow throughout economic cycles. With bus ....