Third Quarter Trading Update

RNS Number : 6098R

Begbies Traynor Group PLC

10 March 2016

 

10 March 2016

Begbies Traynor Group plc

Third Quarter Trading Update

Begbies Traynor Group plc ("'the Group"), the business recovery and property services consultancy, today issues a trading update for its third quarter ended 31 January 2016. 

The Group's performance has been consistent with the outlook reported at the time of the half year results in December 2015 with both of the Group's divisions performing as anticipated.   

The estimated number of company insolvencies in England & Wales (Source: The Insolvency Service) for the 12 months ended 31 December 2015 was 14,629 (31 December 2014: 16,317), a decrease of 10.3%; company insolvencies have been on a declining trend since 2011 and are now at the lowest level since 1989.

*Source: The Insolvency Service quarterly insolvency statistics, 29 January 2016.

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

"The Group is well placed to deliver the Board's expectations for the financial year as a whole."

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Enquiries please contact:

Begbies Traynor Group PLC                                                                0161 837 1700

Ric Traynor - Executive Chairman

Nick Taylor - Group Finance Director

Canaccord Genuity Limited                                                                 020 7523 8350

(Nominated Adviser and Joint Broker)

Bruce Garrow / Nilesh Patel

Shore Capital                                                                                      020 7408 4090

(Joint Broker)

Mark Percy / Anita Ghanekar

MHP Communications                                                                         020 3128 8100

Reg Hoare / Katie Hunt / Giles Robinson

Notes:

Begbies Traynor Group is a business recovery and property services consultancy, providing services nationally from a comprehensive network of UK locations, through two operating divisions: Begbies Traynor and Eddisons. 

Begbies Traynor is the UK's leading independent business recovery practice handling the largest number of corporate appointments, principally serving the mid-market and smaller companies. We provide a range of specialist professional services primarily to businesses, their professional advisors and the major banks covering insolvency, restructuring and risk management activities.

Eddisons is a leading UK firm of chartered surveyors, offering a wide range of specialist services to banks, insolvency practitioners, and owners and occupiers of commercial property. The core services offered are valuation and disposal of property including fixed charge property receiverships; valuation and disposal of machinery and business assets; auctions; insolvency insurance brokerage; property and facilities management; and building consultancy and ratings valuations.

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

 

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