Revenue soars by 23 per cent at financial services firm

Financial advisory firm FRP Advisory Group saw revenues rise by 23 per cent to a £128m last year.

The firm, which has an office in Bristol and has expanded into South Wales with an acquisition saw EBITDA grow by 37 per cent to £37m.

Average revenue per partner for the year was £1.4m which resulted in a £29.9m reported profit before tax for the year.

Chief executive Geoff Rowley said: “The group made excellent progress in the financial year to 30 April 2024, growing revenues and profits for another consecutive year as we remained focused on the execution of our proven strategy: achieving strong organic growth, supplemented by selective acquisitions.

“All five of our pillars made a positive contribution in the year. Our restructuring team continued to be the most active in the UK administration appointment market, FRP Corporate Finance was ranked as the 24th most active financial adviser in the UK M&A market, and our Forensic Services team was very active on a high number of investigation and litigation / arbitration confidential projects. Trading for the first full year of the combined Financial Advisory pillar has been positive, with heightened activity across all service lines

“The results achieved are testament to the efforts of our colleagues, who consistently provide a high-quality service to achieve the best possible outcome for our clients. During FY2024 the proup promoted 15 colleagues to Partner across various locations and service lines, demonstrating our commitment to supporting internal career progression and longer-term succession planning.

In the new financial year, activity levels across all our locations and pillars are encouraging, with trading in line with the Board’s expectations. Our M&A pipeline also remains healthy, giving us confidence of making further positive progress against our strategy.”