Announcement • May 16
FRP Advisory Group plc Provides Earnings Guidance for the Fiscal Year Ended April 30, 2026 FRP Advisory Group plc provided earnings guidance for the fiscal year ended April 30, 2026. The Group expects to report Fiscal Year 2026 revenues of at least £176m which is up 16% on the prior year (FY 2025: £152.2m), These results are at least in line with market consensus. FRP's strong performance reflects the breadth and resilience of the Group in a year that had periods of decision inertia for UK corporates due to uncertainty, including US Tariff changes at the start of the year and speculation ahead of the delayed Autumn 2025 budget. Upcoming Dividend • May 07
Upcoming dividend of UK£0.01 per share Eligible shareholders must have bought the stock before 14 May 2026. Payment date: 12 June 2026. Payout ratio is a comfortable 60% and this is well supported by cash flows. Trailing yield: 4.6%. Lower than top quartile of British dividend payers (5.7%). Higher than average of industry peers (3.2%). Declared Dividend • Mar 22
Dividend of UK£0.01 announced Shareholders will receive a dividend of UK£0.01. Ex-date: 14th May 2026 Payment date: 12th June 2026 Dividend yield will be 5.2%, which is higher than the industry average of 3.3%. Sustainability & Growth Dividend is covered by both earnings (60% earnings payout ratio) and cash flows (49% cash payout ratio). The dividend has increased by an average of 42% per year over the past 6 years and payments have been stable during that time. EPS is expected to grow by 43% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Feb 23
Frp Advisory Group plc Announces Third Quarter Dividend, Payable on 12 June 2026 FRP Advisory Group plc announced that in line with the Company's quarterly dividend policy, the Board declares an interim dividend of 1 pence per eligible ordinary share for the third quarter of Fiscal Year 2026 (Q3 2025: 0.95 pence). The dividend will be paid on 12 June 2026 to shareholders on the register on 15 May 2026, with the ex-dividend date being 14 May 2026. Upcoming Dividend • Feb 12
Upcoming dividend of UK£0.01 per share Eligible shareholders must have bought the stock before 19 February 2026. Payment date: 20 March 2026. Payout ratio is a comfortable 60% and this is well supported by cash flows. Trailing yield: 4.1%. Lower than top quartile of British dividend payers (5.3%). Higher than average of industry peers (3.2%). Reported Earnings • Dec 21
First half 2026 earnings released: EPS: UK£0.054 (vs UK£0.053 in 1H 2025) First half 2026 results: EPS: UK£0.054 (up from UK£0.053 in 1H 2025). Revenue: UK£87.1m (up 12% from 1H 2025). Net income: UK£13.5m (up 3.1% from 1H 2025). Profit margin: 16% (down from 17% in 1H 2025). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 5.5% p.a. on average during the next 3 years, compared to a 1.1% growth forecast for the Capital Markets industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 18% per year but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings. Announcement • Nov 22
FRP Advisory Group plc Provides Trading Update for the Half Year Ended 31 October 2025 FRP Advisory Group plc provided trading update for the half year ended 31 October 2025. The Group's performance in the first half of the year was positive, with expected revenue for first half of fiscal 2026 of £87 million, up 12% on the prior year (H1 2025: £77.6 million) and expected underlying adjusted EBITDA of £23 million, up 3% on H1 2025: £22.3 million. This represents a solid performance against a very strong comparative period which included significant contributions from The Body Shop case and a large Corporate Finance project. Announcement • Nov 21
FRP Advisory Group plc to Report First Half, 2026 Results on Dec 18, 2025 FRP Advisory Group plc announced that they will report first half, 2026 results on Dec 18, 2025 Upcoming Dividend • Nov 13
Upcoming dividend of UK£0.01 per share Eligible shareholders must have bought the stock before 20 November 2025. Payment date: 19 December 2025. Payout ratio is a comfortable 59% and this is well supported by cash flows. Trailing yield: 3.9%. Lower than top quartile of British dividend payers (5.5%). Higher than average of industry peers (2.9%). Declared Dividend • Oct 26
Fourth quarter dividend increased to UK£0.01 Dividend of UK£0.01 is 5.3% higher than last year. Ex-date: 20th November 2025 Payment date: 19th December 2025 Dividend yield will be 3.7%, which is higher than the industry average of 3.3%. Sustainability & Growth Dividend is covered by both earnings (59% earnings payout ratio) and cash flows (44% cash payout ratio). The dividend has increased by an average of 52% per year over the past 5 years and payments have been stable during that time. EPS is expected to grow by 35% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Upcoming Dividend • Sep 18
Upcoming dividend of UK£0.025 per share Eligible shareholders must have bought the stock before 25 September 2025. Payment date: 24 October 2025. Payout ratio is a comfortable 59% and this is well supported by cash flows. Trailing yield: 3.8%. Lower than top quartile of British dividend payers (5.5%). Higher than average of industry peers (3.0%). Reported Earnings • Sep 13
Full year 2025 earnings: EPS misses analyst expectations Full year 2025 results: EPS: UK£0.091. Revenue: UK£152.2m (up 19% from FY 2024). Net income: UK£22.5m (up 2.3% from FY 2024). Profit margin: 15% (down from 17% in FY 2024). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 6.3%. Revenue is forecast to grow 5.2% p.a. on average during the next 3 years, compared to a 1.6% growth forecast for the Capital Markets industry in the United Kingdom. Recent Insider Transactions Derivative • Sep 05
CFO & Executive Director exercised options and sold UK£60k worth of stock On the 2nd of September, Gavin Jones exercised options to acquire 44k shares at no cost and sold these for an average price of UK£1.37 per share. This trade did not impact their existing holding. Since March 2025, Gavin has owned 204.30k shares directly. Company insiders have collectively sold UK£78k more than they bought, via options and on-market transactions in the last 12 months. Declared Dividend • Jul 25
Fourth quarter dividend increased to UK£0.025 Dividend of UK£0.025 is 11% higher than last year. Ex-date: 25th September 2025 Payment date: 24th October 2025 Dividend yield will be 4.2%, which is higher than the industry average of 3.3%. Sustainability & Growth Dividend is covered by both earnings (59% earnings payout ratio) and cash flows (46% cash payout ratio). The dividend has increased by an average of 52% per year over the past 5 years and payments have been stable during that time. EPS is expected to grow by 34% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Jul 25
FRP Advisory Group plc Recommends a Final Dividend for the Financial Year Ended 30 April 2025, Payable on 24 October 2025 The Board of FRP Advisory Group plc recommended a final dividend of 2.55 pence per eligible Ordinary Share for the financial year ended 30 April 2025. Subject to approval by shareholders, the final dividend will be paid on 24 October 2025 to shareholders on the Company's register at close of business on 26 September 2025. If the final dividend is approved, the total dividends paid by the Company relating to the financial year ended 30 April 2025 will be 5.4 pence per eligible Ordinary Share. Reported Earnings • Jul 24
Full year 2025 earnings: EPS misses analyst expectations Full year 2025 results: EPS: UK£0.091. Revenue: UK£152.2m (up 19% from FY 2024). Net income: UK£22.5m (up 2.3% from FY 2024). Profit margin: 15% (down from 17% in FY 2024). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 6.3%. Revenue is forecast to grow 5.2% p.a. on average during the next 3 years, compared to a 1.8% growth forecast for the Capital Markets industry in the United Kingdom. Announcement • Jul 23
FRP Advisory Group plc, Annual General Meeting, Sep 23, 2025 FRP Advisory Group plc, Annual General Meeting, Sep 23, 2025. Buy Or Sell Opportunity • Jun 16
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 14% to UK£1.21. The fair value is estimated to be UK£1.53, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 16% over the last 3 years. Earnings per share has grown by 27%. Revenue is forecast to grow by 14% in 2 years. Earnings are forecast to grow by 4.6% in the next 2 years. Buy Or Sell Opportunity • May 19
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 11% to UK£1.25. The fair value is estimated to be UK£1.57, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 16% over the last 3 years. Earnings per share has grown by 27%. Revenue is forecast to grow by 14% in 2 years. Earnings are forecast to grow by 4.6% in the next 2 years. Announcement • May 12
FRP Advisory Group plc (AIM:FRP) acquired ONE Advisory Group for approximately £8.1 million. FRP Advisory Group plc (AIM:FRP) acquired ONE Advisory Group for approximately £8.1 million on May 12, 2025. The total consideration for the acquisition is split between cash of approximately £6.5 million and the issue of new ordinary shares with a value of approximately £1.6 million. 1,224,333 new ordinary shares of FRP Advisory Group are to be issued as part of the acquisition with application to be made to trading on the AIM market of the London Stock Exchange. The One Advisory team comprises 41 colleagues, all of whom will join FRP, including the firm's three directors, Matt Wood, Laura Nuttall and Michael Butler, who will join as Partners. One Advisory Group comprises One Advisory Group Limited,One Advisory Limited, and One Capital Limited. Cavendish Capital Markets Limited acted as financial advisor for FRP Advisory Group plc.
FRP Advisory Group plc (AIM:FRP) completed the acquisition of ONE Advisory Group on May 12, 2025. Announcement • May 09
FRP Advisory Group plc Provides Earnings Guidance for Fiscal Year 2025 FRP Advisory Group plc provided earnings guidance for fiscal year 2025. For the period, the Group expects to report Fiscal Year 2025 revenues of approximately £152 million, up 19% on the prior year (FY 2024: £128.2 million). Announcement • May 08
FRP Advisory Group plc to Report Fiscal Year 2025 Results on Jul 23, 2025 FRP Advisory Group plc announced that they will report fiscal year 2025 results on Jul 23, 2025 Declared Dividend • Mar 23
Dividend of UK£0.0095 announced Shareholders will receive a dividend of UK£0.0095. Ex-date: 15th May 2025 Payment date: 13th June 2025 Dividend yield will be 3.7%, which is higher than the industry average of 3.3%. Sustainability & Growth Dividend is well covered by both earnings (47% earnings payout ratio) and cash flows (46% cash payout ratio). The dividend has increased by an average of 50% per year over the past 5 years and payments have been stable during that time. EPS is expected to grow by 9.7% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Feb 17
FRP Advisory Group plc Declares Dividend for the Third Quarter Ended January 31, 2025, payable on June 13, 2025 FRP Advisory Group plc announced that the Board declared an interim dividend of 0.95 pence per eligible ordinary share for the third quarter ended 31 January 2025 (Q3 2024: 0.9 pence). The dividend will be paid on 13 June 2025 to shareholders on the register on 16 May 2025, with the ex-dividend date being 15 May 2025. Reported Earnings • Dec 23
First half 2025 earnings released: EPS: UK£0.053 (vs UK£0.038 in 1H 2024) First half 2025 results: EPS: UK£0.053 (up from UK£0.038 in 1H 2024). Revenue: UK£77.6m (up 32% from 1H 2024). Net income: UK£13.1m (up 49% from 1H 2024). Profit margin: 17% (up from 15% in 1H 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 4.4% p.a. on average during the next 3 years, compared to a 3.7% growth forecast for the Capital Markets industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 27% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth. Declared Dividend • Dec 22
Dividend of UK£0.0095 announced Shareholders will receive a dividend of UK£0.0095. Ex-date: 20th February 2025 Payment date: 21st March 2025 Dividend yield will be 3.4%, which is about the same as the industry average. Sustainability & Growth Dividend is well covered by both earnings (46% earnings payout ratio) and cash flows (46% cash payout ratio). The dividend has increased by an average of 66% per year over the past 4 years and payments have been stable during that time. EPS is expected to decline by 3.2% over the next 3 years. However, it would need to fall by 49% to increase the payout ratio to a potentially unsustainable range. New Risk • Dec 18
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 1.2% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 1.2% per year for the foreseeable future. Minor Risks Shareholders have been diluted in the past year (6.9% increase in shares outstanding). Significant insider selling over the past 3 months (UK£49k sold). Buy Or Sell Opportunity • Dec 02
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 1.3% to UK£1.48. The fair value is estimated to be UK£1.88, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 14% over the last 3 years. Earnings per share has grown by 16%. For the next 3 years, revenue is forecast to grow by 7.8% per annum. Earnings are also forecast to grow by 5.2% per annum over the same time period. Valuation Update With 7 Day Price Move • Nov 01
Investor sentiment improves as stock rises 25% After last week's 25% share price gain to UK£1.55, the stock trades at a forward P/E ratio of 15x. Average forward P/E is 13x in the Capital Markets industry in the United Kingdom. Total returns to shareholders of 37% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at UK£1.97 per share. Declared Dividend • Oct 27
Dividend of UK£0.0095 announced Shareholders will receive a dividend of UK£0.0095. Ex-date: 21st November 2024 Payment date: 20th December 2024 Dividend yield will be 4.1%, which is higher than the industry average of 3.3%. Sustainability & Growth Dividend is covered by both earnings (53% earnings payout ratio) and cash flows (50% cash payout ratio). The dividend has increased by an average of 66% per year over the past 4 years and payments have been stable during that time. EPS is expected to grow by 13% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Oct 17
FRP Advisory Group plc (AIM:FRP) acquired Globalview Advisors Limited for £5.5 million. FRP Advisory Group plc (AIM:FRP) acquired Globalview Advisors Limited for £5.5 million on October 17, 2024.
For the period ending December 31, 2023, Globalview Advisors Limited reported total revenue of £2.7 million and EBITDA of £1.5 million.
Sarpel Ustunel will join FRP as a Partner, collaborating with Jim to expand the valuation team to 16 members.
Katy Birkin, Stephen Keys, and George Lawson of Cavendish Capital Markets Limited acted as financial advisor for FRP Advisory Group plc.
FRP Advisory Group plc (AIM:FRP) completed the acquisition of Globalview Advisors Limited on October 17, 2024. Declared Dividend • Sep 29
Dividend of UK£0.0095 announced Shareholders will receive a dividend of UK£0.0095. Ex-date: 21st November 2024 Payment date: 20th December 2024 Dividend yield will be 3.5%, which is higher than the industry average of 3.3%. Sustainability & Growth Dividend is covered by both earnings (53% earnings payout ratio) and cash flows (50% cash payout ratio). The dividend has increased by an average of 66% per year over the past 4 years and payments have been stable during that time. EPS is expected to grow by 11% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Sep 26
FRP Advisory Group plc Declares Interim Dividend for the First Quarter of Fiscal Year 2025, Payable on 20 December 2024 FRP Advisory Group plc declared an interim dividend of 0.95 pence per eligible ordinary share for the first quarter of fiscal year 2025 (first quarter 2024: 0.9 pence). The dividend will be paid on 20 December 2024 to shareholders on the register on 22 November 2024, with the ex-dividend date being 21 November 2024. Upcoming Dividend • Sep 19
Upcoming dividend of UK£0.023 per share Eligible shareholders must have bought the stock before 26 September 2024. Payment date: 25 October 2024. Payout ratio is a comfortable 53% and this is well supported by cash flows. Trailing yield: 3.5%. Lower than top quartile of British dividend payers (5.5%). Higher than average of industry peers (2.8%). Announcement • Sep 05
FRP Advisory Group plc (AIM:FRP) acquired Williams Ali Cf Limited. FRP Advisory Group plc (AIM:FRP) acquired Williams Ali Cf Limited for £0.5 million on September 3, 2024. As consideration, 0.331126 million new ordinary shares are to be issued as part of the Acquisition with application to be made to trading on the AIM market of the London Stock Exchange Williams Ali's two Directors and Founders, Abu Ali and Phil Williams, will join FRP as Partners. All other members of the WilliamsAli team, comprising five colleagues will also join FRP. The team will now operate locally as FRP Corporate Finance. Katy Birkin, Stephen Keys and George Lawson of Cavendish Capital Markets Limited acted as financial advisor to FRP Advisory Group. Carlton Nelson of Investec Bank plc acted as joint broker in this transaction.
FRP Advisory Group plc (AIM:FRP) completed the acquisition of Williams Ali Cf Limited on September 3, 2024. Declared Dividend • Jul 26
Fourth quarter dividend increased to UK£0.023 Dividend of UK£0.023 is 12% higher than last year. Ex-date: 25th September 2024 Payment date: 25th October 2024 Dividend yield will be 3.8%, which is higher than the industry average of 3.3%. Sustainability & Growth Dividend is covered by both earnings (53% earnings payout ratio) and cash flows (49% cash payout ratio). The dividend has increased by an average of 66% per year over the past 4 years and payments have been stable during that time. EPS is expected to grow by 10% over the next 2 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Jul 25
Full year 2024 earnings: Revenues and EPS in line with analyst expectations Full year 2024 results: EPS: UK£0.094 (up from UK£0.056 in FY 2023). Revenue: UK£128.2m (up 23% from FY 2023). Net income: UK£22.0m (up 73% from FY 2023). Profit margin: 17% (up from 12% in FY 2023). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) were also in line with analyst expectations. Revenue is forecast to grow 7.5% p.a. on average during the next 3 years, compared to a 4.4% growth forecast for the Capital Markets industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 16% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth. Announcement • Jul 25
FRP Advisory Group plc, Annual General Meeting, Sep 26, 2024 FRP Advisory Group plc, Annual General Meeting, Sep 26, 2024. Announcement • Jul 24
FRP Advisory Group plc Recommends Final Dividend for the Financial Year Ended 30 April 2024, Payable on 25 October 2024 FRP Advisory Group plc recommended a final dividend of 2.3 pence per eligible Ordinary Share for the financial year ended 30 April 2024. Subject to approval by shareholders at the AGM, the final dividend will be paid on 25 October 2024 to shareholders on the Company's register at close of business on 26 September 2024. If the final dividend is approved, the total dividends paid by the Company relating to Fiscal Year 2024 will be 5.0p per eligible Ordinary Share (FY 2023: 4.6p). Announcement • Jul 20
FRP Advisory Group plc (AIM:FRP) acquired Lexington Corporate Advisors Limited for £3.5 million. FRP Advisory Group plc (AIM:FRP) acquired Lexington Corporate Advisors Limited for £3.5 million on July 19, 2024. The consideration consists of £2.2 million and £1.3 million through the issue of 996,168 new ordinary shares by FRP Advisory. The total consideration also includes the net assets acquired on completion of approximately £0.5 million. The purchase also includes the acquisition of Lexington Corporate Finance Limited, Lexington Corporate Advisors Limited and Cactus Capital Limited. On completion, Directors and Founder, Gary Partridge, will join FRP as Partner. All other members of the Lexington team will also join FRP, including 14 colleagues. For the period ending April 30, 2024, Lexington Corporate Advisors Limited reported total revenue of £2.3 million and EBITDA of £0.6 million.
Katy Birkin, Stephen Keys and George Lawson of Cavendish Capital Markets Limited acted as financial advisor for FRP Advisory Group plc.
FRP Advisory Group plc (AIM:FRP) completed the acquisition of Lexington Corporate Advisors Limited on July 19, 2024. New Risk • May 28
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 2.5% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Minor Risks Dividend is not well covered by cash flows (125% cash payout ratio). Shareholders have been diluted in the past year (2.5% increase in shares outstanding). Price Target Changed • May 24
Price target increased by 12% to UK£2.00 Up from UK£1.78, the current price target is an average from 6 analysts. New target price is 52% above last closing price of UK£1.31. Stock is up 19% over the past year. The company is forecast to post earnings per share of UK£0.087 for next year compared to UK£0.056 last year. Announcement • May 19
FRP Advisory Group plc to Report Q4, 2024 Results on Jul 24, 2024 FRP Advisory Group plc announced that they will report Q4, 2024 results on Jul 24, 2024 Announcement • May 18
FRP Advisory Group plc Provides Unaudited Earnings Guidance for the Fiscal Year 2024 FRP Advisory Group plc provided unaudited earnings guidance for the fiscal year 2024. For the year, the company expects to report revenues to be £128 million, up 23% on the prior year (fiscal year 2023: £104 million). Announcement • May 16
FRP Advisory Group plc Announces That Four of the Firm's Directors Will Join FRP as Partners FRP Advisory Group plc announced the acquisition of commercial finance and risk management specialists Hilton-Baird Group* for a consideration of £7 million plus an amount for the net assets acquired on completion which company estimate to be £1.4 million and a three-year performance based earn-out linked to profit in excess of a hurdle. The total consideration is split between cash of £5.6 million, the issue of new ordinary shares worth a value of £2.8 million and the performance based earn-out. The Company will continue to operate under the Hilton-Baird brand and sit within FRP's Debt Advisory pillar. Four of the firm's Directors, Alex Hilton-Baird, Evette Orams, Graham Bird, and Ian Tramaseur will join FRP as Partners, with the rest of the Hilton-Baird team comprising 36 colleagues also joining FRP. Announcement • Apr 27
FRP Advisory Group plc Announces Directorate Change FRP Advisory Group plc announced the appointment of Louise Jacksonas an independent Non-Executive Director on 1 May 2024. Louise has significant Board and leadership experience, particularly in Human Resources. She is currently a Non-Executive Director and Chair of the Remuneration Committee at AIM quoted M&C Saatchi plc and is Senior Vice President of People and Talent for the Tony Blair Institute for Global Change. Prior to this, Louise had HR Leadership roles including: Group Director of Talent and Leadership at the global luxury retailer, Selfridges Group Ltd, where she also sat on the Remuneration Committee; Human Resource Director of Kyowa Kirin International; Senior Partner in Leadership and Talent at Korn Ferry International and Group People Director at Mothercare plc. Her earlier career was in management consultancy with PwC and organisational change roles at British Airways and Thomson Travel Group, as well as founding her own HR consultancy business, 7Days, where she acted as CEO for ten years. Current FRP Non-Executive Director, Claire Balmforth, has informed the Board of her intention to retire from her post and will step down on 30 April 2024. Louise Ann Jackson (neé Palmer, aged 56) has held the following directorships or partnerships in the past five years: Current: M&C Saatchi plc. Previous (last 5 years): Mothers2Mothers (UK) Limited;The Palmwell Group Limited; The Really Effective Development Company Limited. Louise Jackson was appointed a director of 7 Days Limited on 3 May 2001 and resigned on 27 September 2011. 7 Days Limited appointed a liquidator on 11 October 2011 and was dissolved via a creditors' voluntary winding up on 11 September 2014. Declared Dividend • Feb 23
Dividend of UK£0.009 announced Shareholders will receive a dividend of UK£0.009. Ex-date: 16th May 2024 Payment date: 14th June 2024 Dividend yield will be 3.9%, which is higher than the industry average of 3.3%. Sustainability & Growth Dividend is covered by earnings (71% earnings payout ratio) but not covered by cash flows (124% cash payout ratio). The dividend has increased by an average of 91% per year over the past 3 years and payments have been stable during that time. EPS is expected to grow by 50% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Feb 14
FRP Advisory Group plc Declares Third Quarter Dividend, Payable on 14 June 2024 FRP Advisory Group plc declared a dividend for the third quarter ended 31 January 2024 of 0.9 pence per eligible ordinary share. This dividend will be paid on 14 June 2024 to shareholders on the register at 17 May 2024, with the ex-dividend date being 16 May 2024. Buy Or Sell Opportunity • Jan 26
Now 21% undervalued Over the last 90 days, the stock has risen 7.4% to UK£1.24. The fair value is estimated to be UK£1.56, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 15% over the last 3 years. Earnings per share has grown by 13%. Revenue is forecast to grow by 11% in a year. Earnings are forecast to grow by 24% in the next year. Reported Earnings • Dec 14
First half 2024 earnings released: EPS: UK£0.038 (vs UK£0.027 in 1H 2023) First half 2024 results: EPS: UK£0.038 (up from UK£0.027 in 1H 2023). Revenue: UK£58.7m (up 19% from 1H 2023). Net income: UK£8.80m (up 49% from 1H 2023). Profit margin: 15% (up from 12% in 1H 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 8.0% p.a. on average during the next 3 years, compared to a 2.4% growth forecast for the Capital Markets industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 13% per year whereas the company’s share price has increased by 8% per year. Announcement • Dec 13
FRP Advisory Group plc Announces Board Changes FRP Advisory Group plc announced that Nigel Guy will retire from his role as Non-executive Chairman of FRP on 2 January 2024, after 13 years in the role. Nigel's retirement is in accordance with the succession plan developed by the Board and this has allowed for the appointment of a new Chair to lead the Board as the Company continues to execute its growth strategy. This plan enabled the Board to conduct a thorough recruitment process with support from an external search firm, and the Company is pleased to announced the appointment of Penny Judd as Non-executive Chair of FRP, with effect from 2 January 2024. New Risk • Sep 28
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 2.0% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Minor Risks Dividend is not well covered by cash flows (101% cash payout ratio). Shareholders have been diluted in the past year (2.0% increase in shares outstanding). Upcoming Dividend • Sep 21
Upcoming dividend of UK£0.021 per share at 4.0% yield Eligible shareholders must have bought the stock before 28 September 2023. Payment date: 27 October 2023. Payout ratio and cash payout ratio are on the higher end at 83% and 93% respectively. Trailing yield: 4.0%. Lower than top quartile of British dividend payers (6.2%). Higher than average of industry peers (3.5%). Announcement • Sep 13
FRP Advisory Group plc (AIM:FRP) acquired Wilson Field Group Limited for £4.8 million. FRP Advisory Group plc (AIM:FRP) acquired Wilson Field Group Limited for £4.8 million on September 12, 2023. This comprises cash of £3.1 million and the 1.531532 million new ordinary shares are to be issued as part of the Acquisition with a value of £1.7 million, plus a subsequent payment for the net assets acquired on completion. For the year to 31 August 2022, Wilson Field's consolidated unaudited revenues were £5.3 million and unaudited reported EBITDA was £0.7 million. Two of the firm's Directors, Nick Wilson and Kelly Burton will join FRP as Partners. The rest of the Wilson Field team will also join FRP, including 61 colleagues. Cenkos Securities plc acted as Nominated Adviser and Joint Broker to FRP Advisory Group plc.
FRP Advisory Group plc (AIM:FRP) completed the acquisition of Wilson Field Group Limited on September 12, 2023. Recent Insider Transactions Derivative • Jul 30
CFO & Executive Director exercised options and sold UK£81k worth of stock On the 28th of July, Gavin Jones exercised options to acquire 69k shares at no cost and sold these for an average price of UK£1.18 per share. This trade did not impact their existing holding. As of today, Gavin currently holds no shares directly. This was the only transaction from an insider over the last 12 months. Announcement • Jul 27
FRP Advisory Group plc Recommends Final Dividend for the Financial Year Ended 30 April 2023, Payable on 27 October 2023 The Board of FRP Advisory Group plc recommended a final dividend of 2.05p per eligible Ordinary Share for the financial year ended 30 April 2023. Subject to approval by shareholders, the final dividend will be paid on 27 October 2023 to shareholders on the Company's register at close of business on 29 September 2023. If the final dividend is approved, the total dividends paid by the Company relating to the financial year ended 30 April 2023 will be 4.6p per eligible Ordinary Share (2022: 4.3p). Reported Earnings • Jul 27
Full year 2023 earnings released: EPS: UK£0.056 (vs UK£0.049 in FY 2022) Full year 2023 results: EPS: UK£0.056 (up from UK£0.049 in FY 2022). Revenue: UK£104.0m (up 9.3% from FY 2022). Net income: UK£12.7m (up 6.6% from FY 2022). Profit margin: 12% (in line with FY 2022). Revenue is forecast to grow 6.4% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Capital Markets industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 30% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. Announcement • Jul 26
FRP Advisory Group plc, Annual General Meeting, Sep 28, 2023 FRP Advisory Group plc, Annual General Meeting, Sep 28, 2023. Valuation Update With 7 Day Price Move • Jun 20
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to UK£1.29, the stock trades at a forward P/E ratio of 25x. Average forward P/E is 15x in the Capital Markets industry in the United Kingdom. Total returns to shareholders of 14% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at UK£1.15 per share. Announcement • May 17
FRP Advisory Group plc Provides Earning Guidance for the Full Year to 30 April 2023 FRP Advisory Group plc provided earnings Guidance for the full year to April 30, 2023. For the period, group expects to report revenues of £104 million, up 9% on the prior year (Fiscal Year 2022: £95.2 million). Announcement • May 16
FRP Advisory Group plc to Report Fiscal Year 2023 Results on Jul 26, 2023 FRP Advisory Group plc announced that they will report fiscal year 2023 results on Jul 26, 2023 Announcement • Feb 13
FRP Advisory Group plc Declares Dividend for the Third Quarter Ended 31 January 2023, Payable on 16 June 2023 FRP Advisory Group plc Board have declared a dividend for the third quarter ended 31 January 2023 of 0.85 pence per eligible share. This dividend will be paid on 16 June 2023 to shareholders on the register at 19 May 2023, with the ex-dividend date being 18 May 2023. Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 5 non-independent directors. Independent Non-Executive Director Claire Balmforth was the last independent director to join the board, commencing their role in 2020. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Upcoming Dividend • Sep 15
Upcoming dividend of UK£0.019 per share Eligible shareholders must have bought the stock before 22 September 2022. Payment date: 21 October 2022. Payout ratio is on the higher end at 88%, however this is supported by cash flows. Trailing yield: 2.6%. Lower than top quartile of British dividend payers (5.6%). Lower than average of industry peers (3.4%). Reported Earnings • Jul 22
Full year 2022 earnings: EPS misses analyst expectations Full year 2022 results: EPS: UK£0.054 (down from UK£0.057 in FY 2021). Revenue: UK£95.2m (up 21% from FY 2021). Net income: UK£11.9m (down 13% from FY 2021). Profit margin: 13% (down from 17% in FY 2021). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 8.1%. Over the next year, revenue is forecast to grow 3.8% compared to a 10% decline forecast for the industry in the United Kingdom. Board Change • Apr 27
Less than half of directors are independent There are 5 new directors who have joined the board in the last 3 years. Of these new board members, 1 was an independent director. The company's board is composed of: 2 independent directors. 5 non-independent directors. Independent Non-Executive Director Claire Balmforth was the last independent director to join the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Reported Earnings • Dec 18
First half 2022 earnings: EPS misses analyst expectations First half 2022 results: EPS: UK£0.018 (down from UK£0.025 in 1H 2021). Revenue: UK£44.7m (up 25% from 1H 2021). Net income: UK£4.47m (down 25% from 1H 2021). Profit margin: 10.0% (down from 17% in 1H 2021). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 1.0%. Earnings per share (EPS) missed analyst estimates by 1.0%. Over the next year, revenue is forecast to grow 1.6%, compared to a 11% growth forecast for the industry in the United Kingdom. Upcoming Dividend • Sep 23
Upcoming dividend of UK£0.017 per share Eligible shareholders must have bought the stock before 30 September 2021. Payment date: 29 October 2021. Trailing yield: 3.3%. Lower than top quartile of British dividend payers (3.9%). Higher than average of industry peers (2.6%). Reported Earnings • Jul 28
Full year 2021 earnings released: EPS UK£0.057 (vs UK£0.009 in FY 2020) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2021 results: Revenue: UK£79.0m (up 25% from FY 2020). Net income: UK£13.6m (up UK£11.5m from FY 2020). Profit margin: 17% (up from 3.3% in FY 2020). The increase in margin was driven by higher revenue. Price Target Changed • May 09
Price target increased to UK£1.53 Up from UK£1.43, the current price target is an average from 5 analysts. New target price is 20% above last closing price of UK£1.27. Stock is up 8.5% over the past year. Announcement • Mar 03
FRP Advisory Group plc (AIM:FRP) acquired Spectrum Corporate Finance LLP from five undisclosed sellers for £9.4 million. FRP Advisory Group plc (AIM:FRP) acquired Spectrum Corporate Finance LLP from five undisclosed sellers for £9.4 million on March 1, 2021. Under the terms of the transaction, consideration includes cash payment of £9.4 million plus a further payment contingent on the net assets. The five key selling shareholders of Spectrum have agreed to subscribe for £3.8 million of subscription shares being the closing mid-price on February 23, 2021. The cash proceeds will be funded by a partial drawdown under the existing Revolving Credit Facility. For the year 2020, Spectrum revenue of reported revenue of £4 million and EBITDA of £0.5 million. 27 employees will join FRP including seven as partners Simon Davies, Clive Hatchard, Ian Milne, Mark Farlow, Simon Sherliker, Darren Miller and James Mines. Cenkos Securities plc (AIM:CNKS) acted as financial advisor to FRP Advisory.
FRP Advisory Group plc (AIM:FRP) completed the acquisition of Spectrum Corporate Finance LLP from five undisclosed sellers on March 1, 2021. Upcoming Dividend • Feb 11
Upcoming Dividend of UK£0.016 Per Share Will be paid on the 18th of March to those who are registered shareholders by the 18th of February. The trailing yield of 1.6% is below the top quartile of British dividend payers (4.7%), and is lower than industry peers (2.4%). Is New 90 Day High Low • Nov 30
New 90-day low: UK£0.98 The company is down 14% from its price of UK£1.15 on 01 September 2020. The British market is up 6.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Capital Markets industry, which is flat over the same period. Announcement • Nov 13
FRP Advisory Group plc to Report Q2, 2021 Results on Dec 16, 2020 FRP Advisory Group plc announced that they will report Q2, 2021 results on Dec 16, 2020 Is New 90 Day High Low • Oct 23
New 90-day low: UK£1.11 The company is down 6.0% from its price of UK£1.18 on 24 July 2020. The British market is down 5.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Capital Markets industry, which is down 3.0% over the same period. Is New 90 Day High Low • Sep 28
New 90-day low: UK£1.13 The company is down 8.0% from its price of UK£1.23 on 30 June 2020. The British market is down 4.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Capital Markets industry, which is down 1.0% over the same period. Announcement • Aug 07
FRP Advisory Group plc to Report Fiscal Year 2020 Results on Aug 27, 2020 FRP Advisory Group plc announced that they will report fiscal year 2020 results on Aug 27, 2020