Full Year 2019 Trading Update

RNS Number : 1114Y

Begbies Traynor Group PLC

07 May 2019

 

7 May 2019

Begbies Traynor Group plc

Full Year 2019 Trading Update

Begbies Traynor Group plc (the "Group"), the business recovery, financial advisory and property services consultancy, today issues a trading update for its full year ended 30 April 2019, ahead of announcing its annual results on 9 July 2019.

The Group performed strongly in the final quarter of the financial year, as a result of which we now expect our revenue and profit for the financial year as a whole to be comfortably ahead of market expectations. This was driven by a number of successful fee realisations combined with continuing strong performance from both operating divisions.

Cash collection in the period was significantly ahead of our expectations, which has resulted in a year end net debt position of £6m.

The integration of our recent acquisitions is proceeding well and their trading in the initial post-acquisition period is in line with our expectations.

Ric Traynor, Executive Chairman of Begbies Traynor Group plc, commented:

"We have had a successful end to our financial year with our results anticipated to be comfortably ahead of market expectations. We enter the new financial year with a strong order book and favourable market conditions, and are well placed to continue our track record of earnings growth."

Enquiries please contact:

Begbies Traynor Group plc                                                                  0161 837 1700

Ric Traynor - Executive Chairman

Nick Taylor - Group Finance Director

Canaccord Genuity Limited                                                                 020 7523 4588

(Nominated Adviser and Joint Broker)

Sunil Duggal / Chris Connors

Shore Capital                                                                                        020 7408 4090

(Joint Broker)

Mark Percy / Anita Ghanekar

MHP Communications                                                                         020 3128 8100

Reg Hoare / Katie Hunt

Information on Begbies Traynor Group can be accessed via the Group's website at
www.begbies-traynorgroup.com

 

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