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Begbies Traynor adjusted pre-tax profits flat

Tuesday, 13th December 2016
Business recovery and property services consultancy Begbies Traynor Group posts adjusted pre-tax profits of £2.5m for the six months to the end of October - unchanged from last time.

Revenues were £24.5m (2015: £25.5m) and pre-tax profit of £0.5m was down from £0.6m.

The interim dividend is unchanged at 0.6p per share.

Executive chairman Ric Traynor said: "The Group has delivered another solid financial performance in the period, with results in line with expectations. "This performance reflects the benefit of our diversification into property services, which we anticipate will contribute 30% of the group's revenue and profit for the full financial year. This strategic development has broadened our income streams, so that we are now operating as two complementary operating divisions, each with good market positions and high levels of profitability. "For the year as a whole, we anticipate growth in earnings, in line with expectations, with the benefits of our investment in property services complementing our market-leading, profitable and cash generative insolvency business. We will continue to look for opportunities to develop and enhance the group, both organically and through selective acquisitions. We will provide an update on third quarter trading in early March 2017."

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