Last checked at 27 Feb 2023 07:00
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
Information on Begbies Traynor Group can be accessed via the Group's website atwww.begbies-traynorgroup.com/investor-relations