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Pin to quick picksBegbies Share News (BEG)

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Begbies Traynor reflects on a year of 'strong financial performance'

Thu, 19th Sep 2019 09:11

(Sharecast News) - Financial and property services group Begbies Traynor's chairman Ric Traynor told investors at the company's annual general meeting on Thursday that the firm's last trading year had been "one of strong financial performance".
Traynor said the group had grown the business organically during the year, completing four acquisitions and increasing its dividend whilst reducing net debt.

Revenue and profit growth in the first quarter was in line with expectations, reflecting both its organic development and the contribution from recent acquisitions, leaving Traynor and the board confident of delivering current market expectations for the full year.

Traynor highlighted that all areas of the group had continued to perform well as the market for its counter-cyclical activities had been "favourable" with a 9% increase in national corporate insolvency appointments in the first six months of the calendar year.

"The benefit of our strategy to increase the scale and quality of the group's businesses, through both investment in organic growth and targeted acquisitions, is reflected in our financial performance," said Traynor.

"We now have an enhanced breadth of service lines with multiple sources of growth potential. Whilst we retain a counter-cyclical focus, which accounts for 65% of our income, our broad range of services also positions the group well to grow across the economic cycle."

As of 0925 BST, Begbies Traynor shares had slipped 2.34% to 73p.
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22 Jan 2024 11:54

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22 Jan 2024 11:45

UK companies in financial distress surge amid "debt storm" - Begbies

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12 Dec 2023 16:43

Begbies Traynor completes SDL Auctions buy for GBP3.3 million

(Alliance News) - Begbies Traynor Group PLC on Tuesday said that it has completed its acquisition of SDL Auctions Ltd, which will integrate with Eddisons, its property advisory and transactional services division.

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12 Dec 2023 10:02

Begbies Traynor acquires SDL Auctions

(Sharecast News) - Corporate restructuring firm Begbies Traynor has completed its acquisition of SDL Auctions for an initial cash consideration of £2.5m.

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11 Dec 2023 11:08

Begbies Traynor lifts dividend despite cost hit to half-year profit

(Alliance News) - Begbies Traynor Group PLC on Monday said profit fell in the first half of its financial 2024, as rising costs offset rising revenue, although the Manchester-based insolvency advisory firm still raised its interim dividend and expressed confidence in its full-year outlook.

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11 Dec 2023 07:41

LONDON BRIEFING: GSK drug gets EU endorsement; Begbies backs outlook

(Alliance News) - London's FTSE 100 is called to open a touch lower on Monday, kicking off the week with some slight trepidation after Friday's hotter-than-expected US jobs report which offered the dollar some respite.

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11 Dec 2023 07:40

Begbies Traynor H1 profits down, confident in FY outlook

(Sharecast News) - Corporate restructuring specialist Begbies Traynor said on Monday that it was confident in its full-year outlook despite interim profits falling year-on-year.

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4 Dec 2023 15:42

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Marston's PLCFull Year Results
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Thursday 7 December 
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DS Smith PLCHalf Year Results
Frasers Group PLCHalf Year Results
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Friday 8 December 
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Copyright 2023 Alliance News Ltd. All Rights Reserved.

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20 Nov 2023 17:58

TRADING UPDATES: Begbies to meet expectations; McBride shines

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20 Nov 2023 10:36

Begbies Traynor delivers 'further growth' in H1

(Sharecast News) - Professional services consultancy Begbies Traynor said on Monday that it had delivered "further growth" in the first half of the trading year, leaving it "confident" of delivering full-year expectations.

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8 Nov 2023 12:10

IN BRIEF: Begbies Traynor grows Eddisons with Andrew Forbes purchase

Begbies Traynor Group PLC - Manchester, England-based business recovery, financial advisory and property services consultancy - Completes acquisition of Andrew Forbes Ltd, a Bristol-based firm providing commercial valuation and building consultancy services to South West clients. Will pay maximum cash consideration of GBP1.0 million, comprising initial consideration of GBP500,000 plus earn-out of up to GBP500,000 if profits are maintained in the three years post-completion. Andrew Forbes will be integrated into Begbies's property division, Eddisons. Company says Andrew Forbes generated around GBP250,000 in pretax profit and GBP1.7 million in revenue during the year ended March 31, and expects to report stable trading for the current year.

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8 Nov 2023 11:31

Begbies Traynor acquires Bristol-based Andrew Forbes

(Sharecast News) - Business recovery, financial advisory, and property services consultancy Begbies Traynor Group announced the completed acquisition of Andrew Forbes on Wednesday.

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