FRP Advisory benefits from a “very liquid” UK market
Company specializing in business consulting PRF Advisory Group said in an update on Wednesday that the UK market was still “very liquid”, with accumulated capital deployed by both business buyers and private equity firms.
The AIM-listed company, which held its annual general meeting, said its FRP Corporate Finance division, bolstered by two recent acquisitions, has a “very healthy pipeline” and has completed 32 deals in the current period in the field of leadership and debt counseling. , with a combined value of £ 901million.
Non-Executive Chairman Nigel Guy said FRP was acting as a sales side advisor to musical instrument retailer GAK in connection with its successful management buyout following an investment from Risk Capital Partners, the company’s buy side adviser. of private equity firm Livingbridge in the acquisition of social media publisher Jungle Creations. , and sales advisor to insurance company Ignite Software Solutions on its sale to Sequel, owned by Nasdaq-listed data analytics group Verisk.
“Although the UK has started to overcome the major constraints of the Covid 19 pandemic, the current economic consequences are evident,” Guy said.
“We are seeing a disruption in the supply chain and rising costs of energy, raw materials and wages, which creates a difficult environment for businesses.
“Over the past several months, we have been committed to providing both advisory and formal restructuring services across a range of industries, including civil engineering, manufacturing, parking services, commodity trading, l energy and financial services.
Nigel Guy said FRP expected many sectors to need his expertise, as the full effect of the unwinding of government support coupled with broader economic headwinds began to be felt.
He said the overall trading for the company’s current year from May 1 to date has remained in line with the board’s expectations.
“The PRF is a resilient company, with a history 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, which allows us to be well positioned to meet a growing demand for our advice from diverse sources. “
In accordance with its quarterly dividend policy, the board of directors declared an interim dividend of 0.8p per eligible share for the first three months ended July 31.
The dividend would be paid on December 24 to shareholders entered in the register on November 26.
FRP Advisory has announced that it will announce a trade update covering the first half of the year ending October 31 through mid-November.
At 0858 BST, shares of FRP Advisory Group rose 0.05% to 126.06p.