FRP Advisory trading in line with market expectations

14th Feb 2024 08:35

(Sharecast News) - Business advisory firm FRP Advisory Group reported significant progress in the first nine months of the financial year in a trading update on Wednesday.

The AIM-traded company said current levels of trading activity aligned with market expectations for revenue of £123m, and adjusted EBITDA of £32m.

It said it was planning to release a comprehensive trading update for the entire 2024 financial year in mid-May.

In terms of the quarterly dividend, the group said it had a robust balance sheet and a net cash position.

Under its established dividend policy, the board announced a dividend for the third quarter ended 31 January of 0.9p per eligible share.

The dividend was scheduled to be paid on 14 June to shareholders on record as of 17 May, with the ex-dividend date being set for 16 May.

At 1034 GMT, shares in FRP Advisory Group were down 0.83% at 126.44p.

Reporting by Josh White for Sharecast.com.