FRP Advisory’s restructuring team faces rising demand amid economic downturn
FRP Advisory, which specialises in corporate restructuring, reported £1.2bn worth of transactions in the second half of the year as the economic downturn rattles businesses.
The London-listed group said it expects an increase in demand for its services, which also include corporate finance, debt, forensics, and pensions, to continue.
In a statement today, CEO Geoff Rowley said: “Our restructuring team is well positioned to service the expected increase in demand stemming from the many challenges faced by UK businesses.
“Uncertainties persist over how long the available liquidity and government backed loans can sustain troubled businesses and how proactive key creditors like HMRC and institutional lenders will be on addressing over-due debts.
“Our corporate finance team has a good pipeline and are seeing an increase in demand for debt advisory colleagues to support on transactions.”
Revenue jumped 10 per cent to £49.4m in the six months to the end of October, while pre-tax profits also rose.
Last week, the group, which has grown its workforce by more than 50 staff in the six-month period, announced the acquisition of APP, a Cyprus-based advisory, tax and audit services firm for an unnamed price.