FRP Advisory has revealed it is expecting a 12% annual jump in its first half revenue to £87m.

The specialist business advisory firm is also anticipating underlying adjusted earnings of £23m in H1, up 3% on last year.

In a trading update for the six-month period to 31 October, FRP noted that the upcoming Budget and related speculation would have a “significant impact” on both business confidence and growth. However, the company said it is “well-positioned” to continue making progress across all its service pillars, irrespective of the measures announced by the Chancellor next week.

FRP’s H1 included the acquisition of One Advisory Group to expand its national financial advice offering, before the group opened a new office in Liverpool focused initially on corporate finance, in August.

Earlier this month and just into the H2 period, FRP also announced the acquisition of real estate advisory business, Arc & Co. As a result, the company now intends to launch a sixth service pillar, FRP Real Estate Advisory.

For the full financial year, FRP said it was now expecting to reach revenues of £164.2m and underlying adjusted earnings of £44.8m.

“Our increases in revenue and profitability reflect the success of the investments made in our people, services and geographic footprint, which have continued to broaden our capabilities and strengthen our ability to support clients at every stage of their business cycle,” FRP CEO, Geoff Rowley, commented.

“This positioning means we’re confident of delivering continued profitable growth, regardless of how the fiscal, policy and trading environment develops in the weeks and months ahead.”

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