FRP Advisory Group plc, a UK-based business advisory firm, released its full-year financial results for the fiscal year ending April 30, 2024. The company reported strong financial performance, with a 23% increase in revenue to £128.2 million and a 37% rise in adjusted underlying EBITDA to £37.1 million. The companys profit before tax was £29.9 million, up from £15.6 million in the previous year. FRPs balance sheet remains strong, with a net cash balance of £29.7 million and a healthy M&A pipeline. The company has a strategy of steady and sustainable growth through organic initiatives and selective acquisitions, and it has completed several acquisitions during and after the fiscal year. FRP Advisory Group plcs board recommends a final dividend of 2.3p per eligible ordinary share.
| 2024 | 2023 | % | |
|---|---|---|---|
| Revenue | £128.2 million | £104.0 million | 23% |
| Adjusted underlying EBITDA | £37.1 million | £27.0 million | 37% |
| Reported EBITDA | £33.3 million | £18.5 million | 80% |
| Adjusted Profit before tax | £33.7 million | £24.1 million | 39% |
| Reported Profit before tax | £29.9 million | £15.6 million | 92% |
| Adjusted Total EPS (pence) | 9.94 | 7.83 | 27% |
| Basic EPS (pence) | 9.35 | 5.58 | 67% |
| Total dividend relating to the year (pence) | 5.0 | 4.6 | 9% |
| Net cash | £29.7 million | £22.9 million | 30% |