Last checked at 22 Oct 2020 07:00
22 October 2020
FRP Advisory Group plc
("FRP" or the "Group")
AGM Statement
FRP Advisory Group plc, a leading UK specialist business advisory firm specialising in restructuring, is today holding its Annual General Meeting. Nigel Guy, Non-Executive Chairman, will make the following statement:
"Since announcing our final results on 27 August 2020, the Group has continued to grow and trading in our current financial year (ending 30 April 2021) to date remains in line with expectations. This has been achieved despite the significant reduction in the number of formal insolvency appointments compared with the prior year as a result of the support measures made available by the UK Government in response to COVID-19.
As previously announced, we have successfully completed three complementary acquisitions during the current financial year - in Newcastle, East Anglia and Kent. These have allowed us to continue to selectively build our UK footprint while also growing our existing teams organically.
There remains a substantial degree of uncertainty around the shape and scale of economic recovery, combined with additional pressure as the Brexit transitional agreement comes to an end in 2020. Each FRP office can draw on specialists from other FRP services lines, as well as colleagues from different regions. Combined with additional hires, this resource flexibility means we are well positioned for an increase in demand. The medium-term outlook for our market is positive and the Board remains confident of making further progress in the current financial year."
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)
Max Hartley/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