27th Aug 2020 12:51
(Alliance News) - Professional services firm FRP Advisory Group PLC on Thursday posted a double-digit climb in its first set of annual results since its float back in March.
In the year ended April 30, revenue was 16% higher at GBP63.2 million from GBP54.3 million. The restructuring-focused firm posted a pretax profit of GBP2.9 million, up sharply from a nominal profit of GBP4,000 a year ago.
The company began trading on AIM on March 6. It raised GBP80 million in its initial public offering.
"With a significant and growing market share, FRP is well-placed to service increasing levels of restructuring assignments in the UK, both on increasingly high profile, complex cases and across regional businesses through our national network. This is further supported by the breadth of our skillset across our service lines, including forensics, corporate finance, debt advisory and pensions advisory," Chief Executive Officer Geoff Rowley said.
FRP declared a maiden annual payout of 0.66 pence per share.
Shares in the company were 6.1% lower at 123.00p each in London on Thursday afternoon.
By Eric Cunha; [email protected]
Copyright 2020 Alliance News Limited. All Rights Reserved.
Related Shares:
Frp Advisory Group