Companies

Begbies Traynor Group reports ‘double-digit growth’

In a recent trading update, the group said it benefited from its recent acquisitions and the ‘bounce back’ in activity from last year's lockdowns

Begbies Traynor Group has revealed that it achieved double-digit growth in revenue and profit during the first quarter of the fiscal year and remains “confident” of delivering market expectations for the full year.

In a recent trading update, the group said it benefited from its recent acquisitions and the “bounce back” in activity from last year’s lockdowns.

Over the last four financial years, the group has delivered compound annual growth in adjusted earnings per share of 20%, including 10% organic growth.

Over the same period, the group said it moved from net debt of £10.3m to net cash of £3m at the year end, whilst making “value-enhancing acquisitions” and delivering 8% compound growth in dividend per share.

Ric Traynor, executive chairman, said: “Last year was one of real progress for the group, in which we delivered a strong financial performance, representing another year of growth in revenue and adjusted profits despite the impact of the Covid-19 pandemic, whilst making substantial investments which significantly increased the scale of the group and its capabilities.

“Overall, the group remains in a very strong position. Our increased scale and capabilities provide us with the ability to continue to assist UK businesses as the economy recovers from the challenges of the pandemic.”

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