Third Quarter Trading Update

RNS Number : 0506R

Begbies Traynor Group PLC

27 February 2023

 

27 February 2023

Begbies Traynor Group plc

Third Quarter Trading Update

Begbies Traynor Group plc (the "group"), the business recovery, financial advisory and property services consultancy, today issues a trading update for its third quarter ended 31 January 2023.

Financial performance in Q3 has been in line with the first half year. As a result, our outlook is unchanged and the board therefore remains confident of delivering market expectations* for the full year, which will extend our strong financial track record of growth.

The business recovery & financial advisory division continues to trade in line with expectations.

In business recovery, we continue to take an encouraging level of new insolvency appointments across all market segments; this includes higher value cases such as the on-going administration of Paperchase. The continuing recovery of mid-market cases, which remain below pre-pandemic levels, are expected to benefit the new financial year.

In financial advisory, our teams are trading well and have a good pipeline of engagements to meet expectations for the year.

The property advisory & transactional services division continues to perform well and in line with expectations, reflecting its resilient income streams and a continuing flow of new instructions.

* current range of analyst forecasts for revenue of £117.7m-£121.4m and adjusted PBT of £19.7m-£20.6m (as compiled by the group)

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

"We have continued to perform well across the group and our outlook for the full year remains unchanged. This will extend our strong financial track record of growth, through a combination of organic and acquisitive investment."

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)

Emma Gabriel / Patrick Dolaghan

Shore Capital                                                                                              020 7408 4090

(Joint Broker)

Malachy McEntyre / Mark Percy / Anita Ghanekar / James Thomas

MHP                                                                                                        020 3128 8567

Reg Hoare / Katie Hunt / Charles Hirst / Pauline Guenot                 [e-mail]

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

 

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