FRP Advisory Group plc (FRP.L), a specialist business advisory firm, Tuesday reported profit before tax of 17.8 million pounds for the first half, 55 percent higher than 11.5 million pounds in the same period a year ago, mainly helped by growth in revenue.
Excluding one-time items, adjusted profit before tax increased to 20.3 million pounds form 13.8 million pounds last year.
Operating profit rose to 18.3 million pounds from 11.9 million pounds in the prior year.
Net profit was 13.1 million pounds or 5.20p per share, up from 8.8 million pounds or 3.64p per share a year ago.
Adjusted profit increased to 15.2 million pounds or 6.03p per share from 10.5 million pounds or 4.34p per share last year.
EBITDA, or earnings before interest, taxes, depreciation, and amortization rose to 19.8 million pounds from 13.2 million pounds a year ago, while adjusted EBITDA increased 44 percent year-on-year to 22.3 million pounds.
Revenue for the period grew 32 percent to 77.6 million pounds from 58.7 million pounds in the previous year.
The Board has declared an interim dividend for the second quarter of 0.95p per share, to be paid on March 21 to shareholders of record on February 21.
Looking ahead, the company said it remains track on achieving current market expectations for the full year. The market sees revenue of 146.7 million pounds and adjusted EBITDA of 39.5 million pounds for the year.
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