FRP Advisory Group PLC Annual Report & Accounts (0013V)

TIDMFRP

RNS Number : 0013V

FRP Advisory Group PLC

05 August 2022

5 August 2022

FRP Advisory Group plc

("FRP" or the "Group")

Annual Report & Accounts

FRP Advisory Group plc, a leading national specialist business advisory firm, announces that it has published its Annual Report and Accounts for the year ended 30 April 2022 ("2022 Annual Report and Accounts"), which is now available on the Group's website at https://www.frpadvisory.com/investors/financials-documents/.

During the finalisation of the FY 2022 Annual Report & Accounts, the Group became aware of two inconsistencies within the FY 2022 Results preliminary announcement, which was issued on 22 July 2022. The Group's prior year headcount for the year ended 30 April 2021 was 457 Colleagues, excluding consultants, rather than 438. There has also been a presentational change in the Group's cashflow statement, where an operating outflow has been reclassified to investing activities, from a reduction in payables to an increase in acquisition of subsidiaries less cash acquired in the year ended 30 April 2022. This has no impact on the Group's year end net cash position of GBP18.1 million, as announced.

An updated version of the Group's FY 2022 results presentation has been uploaded to Group's website.

Enquiries:

FRP Advisory Group plc

Geoff Rowley, CEO

Jeremy French, COO

Gavin Jones, CFO

Enquiries via MHP

Cenkos Securities plc (Nominated Adviser and Sole Broker)

Katy Birkin/Max Gould (Corporate Finance)

Alex Pollen (Sales)

Tel: [phone]

MHP Communications (Financial Public Relations)

Oliver Hughes

Charlie Barker

Pete Lambie

Tel: [phone]

[e-mail]

Notes to Editors

FRP is a professional services firm established in 2010 which offers a range of advisory services to companies, lenders, investors and other stakeholders, as well as individuals. These services include:

-- Corporate finance: mergers & acquisitions (M&A), strategic advisory and valuations, financial due diligence, capital raising, special situations M&A and partial exits.

-- Restructuring advisory: corporate financial advisory, formal insolvency appointments, informal restructuring advisory, personal insolvency and general advice to all stakeholders.

-- Debt advisory: raising and refinancing debt, debt amendments and extensions, restructuring debt, asset based lending and corporate and leveraged debt advisory.

-- Forensic services: forensic investigations, compliance and risk advisory, dispute services and forensic technology.

-- Pensions advisory: pension scheme transaction advisory, pension scheme restructuring advisory, covenant advisory and corporate governance.

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August 05, 2022 02:00 ET (06:00 GMT)