REG - Begbies Traynor - Full Year 2019 Trading Update

Begbies TraynorAnnouncement

07/05/2019 07:09

RNS Number : 1114Y
Begbies Traynor Group PLC
07 May 2019
 


7 May 2019
 
Begbies Traynor Group plc
 
Full Year 2019 Trading Update
 
Begbies Traynor Group plc (the "Group"), the business recovery, financial advisory and property services consultancy, today issues a trading update for its full year ended 30 April 2019, ahead of announcing its annual results on 9 July 2019.
 
The Group performed strongly in the final quarter of the financial year, as a result of which we now expect our revenue and profit for the financial year as a whole to be comfortably ahead of market expectations. This was driven by a number of successful fee realisations combined with continuing strong performance from both operating divisions.
 
Cash collection in the period was significantly ahead of our expectations, which has resulted in a year end net debt position of £6m.
 
The integration of our recent acquisitions is proceeding well and their trading in the initial post-acquisition period is in line with our expectations.
 
Ric Traynor, Executive Chairman of Begbies Traynor Group plc, commented:
 
"We have had a successful end to our financial year with our results anticipated to be comfortably ahead of market expectations. We enter the new financial year with a strong order book and favourable market conditions, and are well placed to continue our track record of earnings growth."
 
 
Enquiries please contact:
           
Begbies Traynor Group plc                                                                  0161 837 1700
Ric Traynor - Executive Chairman
Nick Taylor - Group Finance Director
 
Canaccord Genuity Limited                                                                 020 7523 4588
(Nominated Adviser and Joint Broker)
Sunil Duggal / Chris Connors
 
Shore Capital                                                                                        020 7408 4090
(Joint Broker)
Mark Percy / Anita Ghanekar
           
MHP Communications                                                                         020 3128 8100
Reg Hoare / Katie Hunt
 
 
Information on Begbies Traynor Group can be accessed via the Group's website at

www.begbies-traynorgroup.com




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