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24 Mar 2020 07:00
24 March 2020
Begbies Traynor Group plc
Statement re COVID-19
Begbies Traynor Group plc (the 'company' or the 'group'), the business recovery, financial advisory and property services consultancy, today provides an update on its initial response to the COVID-19 outbreak. We continue to closely monitor and act upon the information released by the authorities.
Our top priority is the health, safety and well-being of our colleagues, with whom we are communicating regularly. We have quickly enabled the majority of our employees to work remotely and securely as of last week, whilst continuing to provide advice and support to our clients in this challenging environment.
The group has a breadth of service lines with multiple sources of revenue and retains a strong counter-cyclical focus (accounting for 65% of our income); this broad range and depth of services provides the group with flexibility as the impact of COVID-19 on the economy and our markets develops. In these challenging times we will be working to ensure businesses and all stakeholders receive the appropriate advice to assist them in working through these difficult circumstances.
As we reported with our half year results issued in December 2019, the group is in a strong financial position including having significant headroom on its committed bank facilities. We will provide an update on Q4 trading following the group's year-end, 30 April 2020.
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)
David Tyrrell / Sunil Duggal / Angelos Vlatakis
Shore Capital 020 7408 4090
(Joint Broker)
Mark Percy / Anita Ghanekar
MHP Communications 07734 769359
Reg Hoare / Katie Hunt
Information on Begbies Traynor Group can be accessed via the group's website atwww.begbies-traynorgroup.com/investor-relations.
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