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
Sign up to access
Get access to our full offering from over 30 providers
Get access to our full offering from over 30 providers
Cenkos: FRP Advisory Group Plc -- Trading ahead of expectations
FRP Advisory Group Plc (FRP:LON) | 121 1.8 1.3% | Mkt Cap: 304.2m
- 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 ....