REG - Begbies Traynor - Third Quarter Trading Update

Begbies TraynorAnnouncement

27/02/2023 07:00

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RNS Number : 0506R  Begbies Traynor Group PLC  27 February 2023

27 February 2023

 

Begbies Traynor Group plc

 

Third Quarter Trading Update

 

 

Begbies Traynor Group plc (the "group"), the business recovery, financial
advisory and property services consultancy, today issues a trading update for
its third quarter ended 31 January 2023.

 

Financial performance in Q3 has been in line with the first half year. As a
result, our outlook is unchanged and the board therefore remains confident of
delivering market expectations* for the full year, which will extend our
strong financial track record of growth.

 

The business recovery & financial advisory division continues to trade in
line with expectations.

 

In business recovery, we continue to take an encouraging level of new
insolvency appointments across all market segments; this includes higher value
cases such as the on-going administration of Paperchase. The continuing
recovery of mid-market cases, which remain below pre-pandemic levels, are
expected to benefit the new financial year.

 

In financial advisory, our teams are trading well and have a good pipeline of
engagements to meet expectations for the year.

 

The property advisory & transactional services division continues to
perform well and in line with expectations, reflecting its resilient income
streams and a continuing flow of new instructions.

 

* current range of analyst forecasts for revenue of £117.7m-£121.4m and
adjusted PBT of £19.7m-£20.6m (as compiled by the group)

 

Ric Traynor, Executive Chairman of Begbies Traynor Group plc, commented:

 

"We have continued to perform well across the group and our outlook for the
full year remains unchanged. This will extend our strong financial track
record of growth, through a combination of organic and acquisitive
investment."

 

 

 

Enquiries please contact:

 

Begbies Traynor Group
plc
0161 837 1700

Ric Traynor - Executive Chairman

Nick Taylor - Group Finance Director

 

Canaccord Genuity Limited
                                       020 7523 8350

(Nominated Adviser and Joint Broker)

Emma Gabriel / Patrick Dolaghan

 

Shore Capital
 
020 7408 4090

(Joint Broker)

Malachy McEntyre / Mark Percy / Anita Ghanekar / James Thomas

 

MHP
 
         020 3128 8567

Reg Hoare / Katie Hunt / Charles Hirst / Pauline Guenot
   begbies@mhpgroup.com (mailto:begbies@mhpc.com)

 

 

Information on Begbies Traynor Group can be accessed via the Group's website
at

www.begbies-traynorgroup.com/investor-relations

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