The accountancy firm also reported a 12% increase in revenue to a record £87.1m. Underlying adjusted EBITDA rose by 3% to £23.0m.

This growth was achieved despite a challenging comparison with the same period the previous year, which had been significantly bolstered by high-profile insolvency projects such as The Body Shop.

CEO Geoff Rowley told The Times he anticipates that the recent Autumn Budget will trigger increased demand for the firm’s restructuring services in 2026. He noted that while fiscal clarity can theoretically aid investment decisions, the specific tax policies introduced will exert significant pressure on companies, particularly those in consumer-facing sectors.

The firm forecasts that the retail and hospitality industries will face mounting difficulties due to higher operating costs and tax burdens, a situation that could be exacerbated if the critical “golden quarter” trading period falls short of requirements. Mr Rowley expressed scepticism regarding the economic climate, suggesting that genuine economic confidence has not yet been unlocked and that consumers will remain challenged for the foreseeable future.

Operationally, FRP handled 87 administration cases during the period and securing a 12% market share. High-profile engagements included the administration of the celebrity-frequented central London restaurant Park Chinois, where the firm helped save over 70 jobs. To support this activity and future growth, the group has expanded its workforce to 861 colleagues, an 11% year-on-year increase, and continues to broaden its service offering. This expansion includes the launch of a sixth service pillar, Real Estate Advisory, following the acquisition of Arc & Co, as well as the opening of a new office in Liverpool.

Looking ahead, the board remains confident of meeting full-year market expectations, which forecast revenue of £164.2m and adjusted EBITDA of £44.8m. Reflecting this confidence and the firm’s strong cash generation, FRP declared an interim dividend of 2.0 pence per share, representing a 5% increase on the previous year.

While the restructuring arm prepares for a busy period, the firm also notes a solid pipeline of mandates in its corporate finance division, indicating activity across the breadth of the business.