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Begbies Traynor has revealed that its adjusted profit-before-tax rose 16% to £11.5m for the six months ended 31 October 2024.
It comes as the accountancy firms’ revenues grew 16% to £76.3m, up from £65.9m in the same period last year.
Its adjusted EBITDA also rose 20% to £15.3m reflecting revenue growth and improved margins.
As a result, the firm believes it is on track to deliver its medium-term revenue target of £200m.
Ric Traynor, executive chairman of Begbies Traynor Group, said: “I am pleased to report a strong first half performance in which we have continued to execute our strategy to grow the business, reporting high double-digit growth in revenue and profit.
“This builds on a decade of profitable growth, which has been driven by investing in organic development and earnings enhancing M&A. Since 2014 we have tripled the size of the business with a six-fold increase in adjusted profit before tax.”
He added: “Building on this track record, we are making good progress towards our medium-term revenue target of £200m. Market conditions remain supportive for the group’s service lines which is reflected in our current activity levels and positive momentum across the business.
“This, together with our financial performance in the first six months, leaves the board confident of delivering current market expectations for the full year, which will extend our longstanding track record of strong, profitable growth.”
