FRP Advisory Group (FRP) Q4 2026 TU earnings summary

Executive summary

• FY 2026 revenues expected to reach at least £176m, a 16% increase year-over-year.

• Adjusted underlying EBITDA projected at a minimum of £45m, up 9% from FY 2025.

• Performance aligns with or exceeds market consensus.

• Growth driven by resilience across service lines and targeted acquisitions.

Financial highlights

• Revenue for FY 2026 expected at least £176m (FY 2025: £152.2m).

• Adjusted underlying EBITDA at least £45m (FY 2025: £41.3m).

• Unaudited net cash balance at 30 April 2026 is approximately £26m (FY 2025: £33.3m).

• Headcount increased 12% year-over-year to 894.

Outlook and guidance

• Board expresses confidence for FY 2027 and beyond, citing strong momentum.

• Persistent macroeconomic uncertainty expected to sustain demand for restructuring and advisory services.

• Corporate Finance pipeline remains robust, especially in Private Equity and mid-market consolidation.

• Launch of Real Estate Advisory pillar following Arc & Co acquisition.

• Board confident of further growth and progress in the new financial year.