Begbies Regulatory News (BEG)

5 Oct 2006 07:00

Begbies Traynor Group PLC05 October 2006 RNS release 5 October 2006 Update on Group Trading In a RNS Reach release today, Begbies Traynor Group plc (AIM:BEG) announced theformation of a third Corporate Finance operation, based in its Cornhill City ofLondon office. This development augments the acquisition of an established Corporate FinanceTeam, based in Leeds in May 2005, which expanded into Manchester at the turn ofthe year. The Manchester operation was strengthened in the summer of 2006 by theaddition of a further team of seven professionals. The Group now has Corporate Finance operations in three major city centreoffices and has recently completed one of its largest ever mandates, advising onthe management buy-out of William Cook Defence. In addition, since the Company reported its full year results in July 2006, ithas, as expected, worked to integrate fully the two corporate recoverybusinesses acquired in May and June 2006. That process has progressed smoothlyand both of these businesses are performing to plan. The Group is performing well and up to the Board's expectations and the strategyof growth by recruitment and in-fill acquisitions is progressing as planned. A substantive start to the longer-term objective for growth and developmentthrough international association has now been made through the launch ofBegbies Global Network, announced last week and the executive board is nowactively exploring growth into further complementary professional services. The directors are, therefore, unaware of any reason which would explain therecent downward trend in the market price of shares in the company. Enquiries, please contact: Ric Traynor/Graham McInnes Neil Boom/Tanya Feness Begbies Traynor Gresham PR Ltd. + 44 (0) 207 398 3800 +44 (0) 207 404 9000 This information is provided by RNS The company news service from the London Stock Exchange