FRP Advisory Group PLC AGM Statement and Q1 Dividend Declaration (5001Z)
15 September 2022 - 4:00PM
UK Regulatory
TIDMFRP
RNS Number : 5001Z
FRP Advisory Group PLC
15 September 2022
15 September 2022
FRP Advisory Group plc
("FRP", the "Company" or the "Group")
AGM Statement and Q1 Dividend Declaration
FRP Advisory Group plc, a leading UK specialist business
advisory firm is today holding its Annual General Meeting. Nigel
Guy, Non-Executive Chairman, will make the following statement:
"Continuing the trend reported in our Full Year Results
announcement on 22 July 2022, we have seen an increase in the level
of enquiries for restructuring services. Businesses have seen the
last of the COVID support measures fall away, and the economy is
experiencing significant inflationary pressure and other disruptive
forces. Against that backdrop, there remains uncertainty as to how
proactive key creditors like HMRC and institutional lenders will be
on addressing overdue debts.
FRP Corporate Finance's position within the mid-market,
typically advising on transactions up to c.GBP100m, remains strong.
The deal pipeline and general level of enquiries continue to
demonstrate the strength of the Corporate Finance and Debt Advisory
pillars.
Overall trading in our current financial year, from 1 May 2022
to date, remains in line with the Board's expectations. FRP is a
resilient business, with a track record of growth regardless of
economic conditions. We have a strong balance sheet and a structure
that provides a good level of flexibility in our internal capacity
nationally, allowing us to be well positioned to service an
increase in demand for our advice from diversified sources.
In line with the Company's quarterly dividend policy, the Board
is pleased to declare an interim dividend of 0.85p per eligible
ordinary share for the first quarter ended 31 July 2022 (Q1 FY
2023). The dividend will be paid on 23 December 2022 to
shareholders on the register on 25 November 2022, with the
ex-dividend date being 24 November 2022.
The Company expects to announce a trading update covering the
first half to 31 October 2022 in mid-November 2022."
Enquiries:
FRP Advisory Group plc
Geoff Rowley, CEO
Jeremy French, COO
Gavin Jones, CFO
Enquiries via MHP
Cenkos Securities plc (Nominated Adviser and Sole Broker)
Katy Birkin/Max Gould (Corporate Finance)
Alex Pollen (Sales)
Tel: +44 (0) 207 397 8900
MHP Communications (Financial Public Relations)
Oliver Hughes
Charlie Barker
Pete Lambie
Tel: +44 (0) 3128 8540 / +44 (0) 20 3128 8570
FRP@mhpc.com
Notes to Editors
FRP is a professional services firm established in 2010 which
offers a range of advisory services to companies, lenders,
investors and other stakeholders, as well as individuals. These
services include:
-- Restructuring advisory: corporate financial advisory, formal
insolvency appointments, informal restructuring advisory, personal
insolvency and general advice to all stakeholders.
-- Corporate finance: mergers & acquisitions (M&A),
strategic advisory and valuations, financial due diligence, capital
raising, special situations M&A and partial exits.
-- Debt advisory: raising and refinancing debt, debt amendments
and extensions, restructuring debt, asset based lending and
corporate and leveraged debt advisory.
-- Forensic services: forensic investigations, compliance and
risk advisory, dispute services and forensic technology.
-- Pensions advisory: pension scheme transaction advisory,
pension scheme restructuring advisory, covenant advisory and
corporate governance
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END
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