Frp Advisory Share Discussion Threads

[adipsia1] 20/6/2023 11:08

Looking like a strong breakout from trading range. Next probable resistance around the 132-135 mark, but the fundamentals look very strong. Full year results due to be released on 26 July and it's hard to envisage a less than very positive trading statement given the economic situation. UK administrations are clearly picking up again.

[alphabeta4] 15/5/2023 07:04

Could be at the very least a good trading op here (to c£1.40+)? Turns out the potential miss wasn't one after all and Cenkos have upgraded 2024. Price was just under £1.50 before that previous update.

[johndoe23] 23/4/2023 11:15

Looking interesting, can't decide between here and BEG

[martincc] 21/4/2023 14:01

L2 moving at last, more buyers then sellers

[jeanesy] 12/4/2023 18:37

Blimey that was a larger sell of over 500k today. Hopefully its now in the price.

[rimau1] 11/4/2023 08:34

Hopefully that was the bottom in, surprised at the fast and sustained fall (maybe a forced seller?) and i am now reinvested here for the first time in a long while. I couldn’t justify the valuation for the past 12 months but at under £1.10 i am happy to be back as one to tuck away. Also bought back into BEG at £1.15 which has been range bound for as long as FRP has been overvalued!

[farrugia] 30/3/2023 08:50

what i know for sure is that the UK stock market has been looking miserable over the last few months. That will likely lead to more insolvencies if anything?

[jeanesy] 23/3/2023 19:24

Still falling here. I wonder where the bottom will be /

[adipsia1] 17/3/2023 10:21

It appears that large volume increases earlier in the month are down to share options granted to employees on IPO being exercised and then tranches being settled to fund tax bills.

[bigbaggy] 17/3/2023 10:07

New UK insolvency data released on Tuesday by the UK Insolvency Service. Feb 23 v Feb 22: Liquidations (SMEs - Begbies market) up 13%, Administrations (Larger companies - FRP’s market) down 1%.

FRP are also facing major competition from the Big 4 accounting firms who have spun off their insolvency arms, so they are no longer conflicted to do the big Administrations work.

DYOR of course but this has nuances.

[stevieweebie2] 14/3/2023 08:07

Aye. I've been watching this over the past few weeks. Just in for 10k worth first thing at 116 so happy with that.

[daneswooddynamo] 14/3/2023 08:06

Joined him with a few this morning. Maybe a big overhang has been cleared, there was big volume at 110 late last week

[jeanesy] 14/3/2023 07:46

Big director purchase

[jeanesy] 10/3/2023 15:29

Still falling. Now below support of 120p . How much further will this fall i wonder ?

[jeanesy] 08/3/2023 16:40

Looks very close to the 120p support now. It has certainly fallen along way this year so far in a sector that was supposed to do well !

[bigbaggy] 14/2/2023 07:24

Retail_Rights: you make a very good point. It reads like they are preparing the groundwork in case they miss their numbers. Same I saw on RBGP who missed targets because M&A Advisory deals didn’t complete. My reading is that the M&A market is now very challenging.

On the LSE board someone pointed out that there have emerged some strong competitors in their core Administrations area that did not exist before their recent IPO. These came from the Big 4 Accountants spinning off their Insolvency operations because there was too much conflict with their Audit/Tax clients. FRP used to have this area sown up because they are not part of a bigger Accounting Group.

The high valuation has always been my concern with this company. PER is around 28 which assumes total perfection - especially in today’s market!

As ever DYOR of course.

[retail_rights_research] 13/2/2023 21:40

Trading update just released. Looks like the company is becoming busier (perhaps not a surprise given the current economic climate) which is somewhat promising. However, I am concerned about the following statement: "Based on year-to-date trading, the Board expects to be broadly in line with consensus FY 2023 revenue and adjusted EBITDA(2) expectations(1) , with the outcome subject to the timing of completion of several FRP Corporate Finance transactions around the year end." The indication of being broadly in line with expectations is of course good, but the final sentence means results are highly dependent on some events which may be outside of the company's control. I would advise caution here as to a potential profit warning if timing doesn't work out on some transactions.

[kalai1] 11/11/2022 14:41

FRP Advisory Group plc, a leading national specialist business advisory firm, issued a trading update for the HY ended 31 October 2022 this morning. The Group's performance remained strong during the first half, with continued growth in revenues and profits. The Group expects to report revenue for H1 2023 of £49.4m, up 10% on the prior year and underlying adjusted EBITDA of £11.6m, up 5% on the prior year. Both are in line with the Board's expectations to date. The business is growing steadily and remains very profitable for the Professional & Commercial Services sector. The balance sheet is robust with negative net debt, the share price also has positive momentum. Valuation is the main potential cloud for the investment case, forward PE ratio at 20.9x looks unhelpful for the sector. But the share has only traded to a trailing 12-month PE low of 19.2x since listing in 2022, a more enticing PE valuation may not be on offer anytime soon. BUY...

...from WealthOracle

hxxps://wealthoracle.co.uk/detailed-result-full/FRP/614

[adipsia1] 17/10/2022 17:05

A sad day for Rugby Union today with Wasps going into Administration, but it looks like being very healthy from a fee-income angle for FRP.

[adipsia1] 18/8/2022 12:47

Trending breakout occurred a couple of days ago. AGM news not due until mid-September, so looking like analyst-forecasts of 176 may well be exceeded before that. Unlike BEG and K3C, FRP is making new highs, so no longer-term resistance levels to cause short-term problems. Prior trading-range depth would suggest 185 as a target-price for this trend.

[adipsia1] 16/8/2022 09:29

Looking at corporate distress in the UK at the moment it’s hard to see analyst forecasts not being exceeded for either company. From an insolvency-angle it would seem that FRP are picking up much more profitable, complex work that would traditionally have gone to the Big Four firms, unlike BEG which does lower-value/high-volume liquidation/burials.

[steadyaway1] 10/8/2022 11:24

At 18x forward PE (rather than say BEG on about 14) there's a high amount of expectation of over performance versus forecast here. However with a people / capacity driven business model I guess there's a limit on how much you can take on relative to a fixed cost base? Which is a reason why BEG's 14x looks a bit more appropriate.

[bogman1] 09/8/2022 16:08

Also manolette is a good one with plenty to run

[rimau1] 09/8/2022 12:35

I’ve reluctantly taken profits here at £1.58 simply on valuation grounds. I reckon this is around 20x forward earnings so back on the watchlist and i’ve added to BEG which is 14x earnings and a 2.5% DY. Will be back here on any minor pullbacks. K3 is getting close to bargain levels too.