Begbies Traynor on track to meet FY expectations

Begbies Traynor is “confident” it will meet full-year expectations after it performed well in Q3, with revenues forecast to hit between £117.7m and £121.4m, and adjusted PBT to hit between £19.7m and £20.6m.

The firm said its board “remains confident of delivering market expectations” for the full-year, which it claimed would extend its “strong financial track record of growth”.

In business recovery, the firm said it continued to take an “encouraging level” of new insolvency appointments across all market segments, with this segment boosted this past quarter by higher value cases, such as the Paperchase administration. 

The continuing recovery of mid-market cases, which remain below pre-pandemic levels, are also expected to benefit the new financial year, the firm said.

In financial advisory, its teams were said to be “trading well”, with a good pipeline of engagements to meet expectations for the year. 

Finally, its property advisory and transactional services division continued to perform well and in line with expectations, “reflecting its resilient income streams and a continuing flow of new instructions”.

Ric Traynor, chairman of Begbies Traynor Group, said: “We have continued to perform well across the group and our outlook for the full year remains unchanged. This will extend our strong financial track record of growth, through a combination of organic and acquisitive investment.”