Business

Begbies Traynor revenues up 19% in FY21

The group also welcomed a ‘strong’ adjusted profit growth of 25%, which hit £11.5m during the period, as well as ‘enhanced’ operating margins of 14.8%

Begbies Traynor has welcomed a “strong” full-year performance that was ahead of expectations, with revenue rising 19% to £83.8m in the year ended 30 April 2021

The group also welcomed a “strong” adjusted profit growth of 25%, which hit £11.5m during the period, as well as “enhanced” operating margins of 14.8%. 

The group said that all areas of the business performed well, with a “strong organic performance” and good returns from acquisitions in its business recovery and financial advisory sector, as well as a”strong finish” to the year with its  property advisory and transactional services sector.

It comes as the group welcomed three “earnings enhancing” acquisitions during the year and a further acquisition following the year end, all of which have performing in line with expectations with integration projects “proceeding well”.

Ric Traynor, chairman of Begbies Traynor Group, said: “I am pleased to report on a year of real progress for the group, with results ahead of our original expectations due to improved trading and acquisitions. 

“We have delivered a strong financial performance with another year of growth in revenue and adjusted profits, despite the impact of the Covid-19 pandemic, whilst making substantial investments which have significantly increased the scale of the group and its capabilities.” 

He added: “Over the last four financial years, we have delivered compound annual growth in adjusted earnings per share of 20%, including 10% organic growth. Over the same period we have moved from net debt of £10.3m to net cash of £3.0m at the year end, whilst making value-enhancing acquisitions and delivering 8% compound growth per annum in dividend per share.

“Overall, the group is in a very strong position as we start our new financial year. With the benefit of our recent acquisitions, our organic growth and future acquisition opportunities, we are well positioned to deliver the anticipated material growth in earnings in the new financial year.”

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