In a trading statement, the group said it had ‘achieved another year of strong profitable growth, with all five service lines making positive contributions’.

Subject to audit, the Group expects to report revenues for year ended 30 April 2024 (FY24) of £128m, up 23% on the prior year’s £104m. The FY23 growth in revenue was only 9%. Pre-tax profit was £37m, up 37% on the prior year.

The hike in revenue was a reflection of the current difficult trading environment. FRP is ranked 19th in the Accountancy Daily Top 75 Firms survey and the latest results would see the firm jump to 14th place.