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FRP Advisory Group PLC on Tuesday backed full-year guidance after first half profit leapt, boosted by a strong contribution from the Body Shop administration and sale. The London-based specialist business advisory firm said pretax profit rose 55% to £17.8 million in the six months to October 31 from £11.5 million a year prior. Basic earnings per share improved 42% to 5.34 pence from 3.76p. Revenue increased 32% to £77.6 million from £58.7 million. Of the revenue increase, 23% was on an organic basis and 9% from acquisitions, FRP said. Organic growth was driven by confidential advisory mandates, and complex restructuring projects. It also included a strong contribution from the Body Shop and a large corporate finance project, the firm added. FRP was appointed as administrator to cosmetics retail chain Body Shop in February. FRP said each service pillar has a ‘robust pipeline and a positive outlook’. ‘The board remains confident of achieving current market expectations for the full year, assuming current activity levels continue.’ FRP believes consensus market expectations for financial 2025 to be revenue of £146.7 million and adjusted earnings before interest, tax, depreciation and amortisation of £39.5 million. In the year ended April 30, 2024, FRP reported revenue of £128.2 million and adjusted Ebitda of £37.1 million. FRP boosted its interim dividend 5.6% to 1.9p from 1.8p. Shares in FRP Advisory were 3.2% lower at 149.50p each in London on Tuesday afternoon. Copyright 2024 Alliance News Ltd. All Rights Reserved.
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