Last checked at 7 May 2019 07:00
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 atwww.begbies-traynorgroup.com