Begbies Traynor Group PLC
05 October 2006
RNS release
5 October 2006
Update on Group Trading
In a RNS Reach release today, Begbies Traynor Group plc (AIM:BEG) announced the
formation of a third Corporate Finance operation, based in its Cornhill City of
London office.
This development augments the acquisition of an established Corporate Finance
Team, based in Leeds in May 2005, which expanded into Manchester at the turn of
the year. The Manchester operation was strengthened in the summer of 2006 by the
addition of a further team of seven professionals.
The Group now has Corporate Finance operations in three major city centre
offices and has recently completed one of its largest ever mandates, advising on
the management buy-out of William Cook Defence.
In addition, since the Company reported its full year results in July 2006, it
has, as expected, worked to integrate fully the two corporate recovery
businesses acquired in May and June 2006. That process has progressed smoothly
and both of these businesses are performing to plan.
The Group is performing well and up to the Board's expectations and the strategy
of growth by recruitment and in-fill acquisitions is progressing as planned.
A substantive start to the longer-term objective for growth and development
through international association has now been made through the launch of
Begbies Global Network, announced last week and the executive board is now
actively exploring growth into further complementary professional services.
The directors are, therefore, unaware of any reason which would explain the
recent downward trend in the market price of shares in the company.
Enquiries, please contact:
Ric Traynor/Graham McInnes Neil Boom/Tanya Feness
Begbies Traynor Gresham PR Ltd.
+ 44 (0) 207 398 3800 +44 (0) 207 404 9000
This information is provided by RNS
The company news service from the London Stock Exchange
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