Begbies Traynor reveals ‘strong growth’ in Q3 results

Begbies Traynor Group said it has “continued to trade well” for the Q3 period ended 31 January 2020.

The insolvency firm, that specialises in business recovery, financial advisory and property services consultancy, said its latest trading update reveals a “strong growth” in revenue and profit against the year prior.

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Following a “strong” first half performance, the group added that it is now “confident” it will deliver results in line with expectations for the year as a whole. 

During the quarter, the group also said that its current year acquisitions have performed “in line with its expectations”, and that business integration was proceeding well.

The group said that a combination of organic growth and acquisitions accounted for its performance in the quarter.  

It also said that the insolvency market remains “favourable” with the number of corporate insolvencies in the 2019 calendar year having increased by 7% to 17,196.

Ric Traynor, executive chairman of Begbies Traynor Group, said: “The group has delivered strong organic growth, complemented by good performances from our recent acquisitions. 

“This, combined with continuing favourable UK insolvency market conditions, gives us confidence in delivering results at least in line with current market expectations for the full year.” 

He added: “We continue to increase the scale of our business recovery practice and extend our property services offering, and our strong financial position leaves us well placed to further build upon our track record of organic and acquisitive growth.”

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