Accounting Firms

Begbies Traynor revenues to be ‘comfortably’ ahead of expectations

Begbies Traynor has revealed in an interim update that its  full-year revenues and profits are to be “comfortably” ahead of expectations.

In a statement the group said it performed “strongly” in the final quarter of the financial year, driven by a number of successful fee realisations combined with continuing strong performance from both its operating divisions.

It revealed cash collection in the period was “significantly ahead” of  expectations, which has resulted in a year end net debt position of £6m. The firm added the integration of its recent acquisitions is “proceeding well” and their trading in the initial post-acquisition period is in line with expectations.

Ric Traynor, executive chairman of Begbies Traynor Group plc, added: “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.”

The company will announce its full annual results on 9 July.

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