8th Aug 2025 14:25
(Alliance News) - Frenkel Topping on Friday said it made "good progress" against its strategic plans in the first half of the year, as talks for its potential takeover continue.
The Manchester, England-based specialist financial and professional services firm that operates within the personal injury and clinical negligence marketplace said recurring revenue has grown the record levels of funds under management in 2024, with further continued growth in the first half of 2025.
Frenkel announced GBP1.63 billion in funds under management as at June 30, up 12% from GBP1.46 billion a year prior.
"Growth continues across our transactional businesses, predominantly driven by increases in the number of Medico-Legal expert witnesses we are engaged with, enabling us to handle larger volumes of work, as well as improved performance within our Costs segment. This is aided by the full period impact of the acquisition of Northwest Law Services, which was announced in April 2024," the company said.
In June, Frenkel said it was in "advanced discussions" over a possible takeover offer from Harwood Private Equity LLP.
Harwood has until August 25 to announce its intention to make an offer, or to announce that it does not intend to make an offer. This deadline can be extended.
Looking ahead, Frenkel said: "The business takes confidence from the first half performance and the board believes that the company is well positioned to continue to deliver against its strategic objectives, with overall trading in line with management's expectations."
Frenkel shares were up 0.6% at 47.80 pence each on Friday afternoon in London.
By Tom Budszus, Alliance News slot editor
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