Begbies Traynor revenue tops £52m

Begbies Traynor Group executive chairman Ric Traynor

Manchester-based Begbies Traynor Group plc, the business recovery, financial advisory and property services consultancy, said its revenue from continuing operations in the year ended April 30, 2018, rose to £52.4 million from £49.7 million in the previous year.

Adjusted profit before tax increased to £5.6 million from £4.9 million, “benefiting from improved contribution from both business segments and lower interest costs.”

Profit before tax rose to £2.3 million from £0.6 million.

Begbies Traynor Group executive chairman Ric Traynor said:  “It is pleasing to report a further year of progress in developing the group, during which we have continued to deliver earnings growth, reflecting the benefit of the strategic investments we have made in recent years.

“We have also proposed our first increase in the group’s annual dividend since 2011 and at the same time have reported our lowest net debt since 2007.

“We anticipate continuing our track record of earnings growth in the new financial year, with the benefit of a full year contribution from our recent acquisitions together with growth from our ongoing investments.

“Overall, we remain in a strong position to invest in further opportunities given our financial resources, in line with our strategy to grow both organically and through selective acquisitions.”