FRP has released a positive FY23E trading update, with Adj EBITDA of c£27m beating our £25.7m forecast, as restructuring activity (which had been subdued since extensive government support started in 2020 and for the majority of this financial year) began to pick-up towards the end of the period. We update our forecasts to reflect today's announcement and raise our FY24E Adj EBITDA by £0.5m to £28.0m. Looking ahead, we believe the outlook remains very positive for FRP, given the substantial econ ....
15 May 2023
Cenkos: FRP Advisory Group Plc -- Encouraging results and outlook
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Cenkos: FRP Advisory Group Plc -- Encouraging results and outlook
FRP Advisory Group Plc (FRP:LON) | 121 0 0.0% | Mkt Cap: 304.2m
- Published:
15 May 2023 -
Author:
Peter Renton -
Pages:
8
FRP has released a positive FY23E trading update, with Adj EBITDA of c£27m beating our £25.7m forecast, as restructuring activity (which had been subdued since extensive government support started in 2020 and for the majority of this financial year) began to pick-up towards the end of the period. We update our forecasts to reflect today's announcement and raise our FY24E Adj EBITDA by £0.5m to £28.0m. Looking ahead, we believe the outlook remains very positive for FRP, given the substantial econ ....