Begbies Traynor Group plc, the Manchester-based business recovery and financial advisory firm, confirmed its revenue increased 12% to £136.7 million in the year ended April 30, 2024, as adjusted profit before tax increased 6% to £22 million.

The firm is proposing a 5% increase in total dividend to 4p — its seventh consecutive year of dividend growth.

On current trading and outlook, Begbies Traynor reported “encouraging activity levels in all service lines with positive momentum.”

It said business recovery activity is expected to be maintained at elevated levels going into 2025.

The firm said advisory and corporate finance are expected to improve performance, with an anticipated recovery in M&A activity and continuing positive activity levels within debt advisory and funding.

Begbies Traynor Group executive chairman Ric Traynor said: “I am pleased to report on another successful year of strong financial performance, which now represents a decade of profitable growth.

“This has been driven by our proven growth strategy of investing in organic development and earnings enhancing M&A, resulting in a diversified and resilient business.

“We have delivered value to shareholders across the cycle having tripled the size of the business with a six-fold increase in profit since 2014.

“We have started the new year confident of a further year of growth, in line with market expectations. Activity levels across our service lines are encouraging with positive momentum across the group.

“Overall, our broad range of services, diversified client base, organic growth initiatives and pipeline of acquisition opportunities, leaves us confident of continuing our track record of growth.”