Begbies Traynor Group sees H1 profits reach £8m

Begbies Traynor Group has reported that adjusted pre-tax profits grew to £8m from £5m for the six month period ending 31 October 2021.

Group revenue also increased to £52m from £37.5m and principally reflecting the benefit of the acquisitions completed since January 2021.

The group has maintained its strong financial position with net cash of £1.2m at 31 October 2021 (30 April 2021: £3.0m, 31 October 2020: £0.7m) and “significant” levels of headroom within its committed bank facilities.

Ric Traynor, executive chairman of Begbies Traynor Group, said: “I am pleased to report a strong financial performance in the first six months of our financial year, which is testament to the benefit and integration of our recent acquisitions.

“We remain confident of delivering market expectations for the full year, which will represent a year of significant growth and ensures we are well placed to continue to invest in our successful growth strategy.”