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Begbies Traynor lifts dividend despite fall in profit

By BFN News | 08:02 AM | Tuesday 21 July, 2020


Property services group Begbies Traynor raised its dividend even as profit fell on higher transaction costs. For the year ended 30 April 2020, pre-tax profit fell to £2.9m from £3.3m on-year, while revenue rose £70.5m from £60.1m. The company recommended an 8% increase in the total dividend for the year to 2.8p from 2.6p. Begbies Traynor said its recovery and advisory teams started the new financial year in a strong position to deliver results ahead of last year. In its property and transactional teams, the company said it had seen 'encouraging improvements' in those service lines impacted by the lockdown and anticipated a further recovery in performance over the remainder of the year. At 8:02am: (LON:BEG) Begbies Traynor Group PLC share price was +1.6p at 98.6p Story provided by StockMarketWire.com

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