FRP will again deliver YoY growth in the upcoming H1/22E results. This is commendable given UK administration appointments remain subdued; however, the medium-term outlook looks positive, particularly given the recent rise in UK liquidations. The M&A market continues to be buoyant, aiding FRP Corporate Finance and validating recent acquisitions. Our unchanged FY22E forecasts expect the typical H2 weighting to profits and imply a 18x P/E multiple. This appears cheap versus historic multiples and ....

11 Nov 2021
Cenkos: FRP Advisory Group Plc -- On track and all set for an admins rebound

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Cenkos: FRP Advisory Group Plc -- On track and all set for an admins rebound
FRP Advisory Group Plc (FRP:LON) | 128 -1.3 (-0.8%) | Mkt Cap: 319.9m
- Published:
11 Nov 2021 -
Author:
Cavendish Research -
Pages:
8 -
FRP will again deliver YoY growth in the upcoming H1/22E results. This is commendable given UK administration appointments remain subdued; however, the medium-term outlook looks positive, particularly given the recent rise in UK liquidations. The M&A market continues to be buoyant, aiding FRP Corporate Finance and validating recent acquisitions. Our unchanged FY22E forecasts expect the typical H2 weighting to profits and imply a 18x P/E multiple. This appears cheap versus historic multiples and ....