The FRP Advisory Group Plc Board declares an interim dividend for Q2 2024 of 0.9p per eligible ordinary share. This dividend will be paid on 22 March 2024 to shareholders on the Company's register on 23 February 2024, with an ex-dividend date of 22 February 2024. This dividend takes the total for H1 2024 to 1.8p per eligible share (H1 2023: 1.7p).
Other financial highlights include:
Strong profitable growth
o Revenue increased by 16% on an organic basis and by 3% on an inorganic basis (APP and Wilson Field Group acquisitions)
o Growth was driven by an uptick in restructuring activity levels
o Underlying adjusted EBITDA grew by 34% to £15.5m
Balance sheet strength maintained
o Net cash at 31 October 2023 of £11.7 million
o Continued undrawn committed revolving credit facility ("RCF") of £10 million, along with an accordion acquisition facility of £15 million.
