Business
Trading Update
Trading Update.
About this update from Btg Consulting Plc
[{"type":"text","content":"\n \n \n 17 November 2022\n \n \n \n Begbies Traynor Group plc \n \n \n \n \n Trading update\n \n \n \n \n \"Performing well and confident of delivering expectations\"\n \n \n \n Begbies Traynor Group plc (the 'company' or the 'group'), the business recovery, financial advisory and property services consultancy, announces an update on trading for the six months ended 31 October 2022.\n \n \n \n Summary - performing well with double digit growth\n \n \n \n ·\n Strong financial performance:\n \n \n o \n Revenue expected to increase by c.12% to c.£58.5m (2021: £52.3m)\n \n \n o \n Adjusted PBT expected to increase by c.13% to c.£9.0m (2021: £8.0m)\n \n \n ·\n Net debt of £2.4m at 31 October 2022 (2021: net cash of £1.2m)\n \n \n o \n robust operating cash flow net of dividend payments\n \n \n o \n acquisition and deferred consideration payments of c.£7.2m in the six months\n \n \n ·\n Confident of delivering market expectations for the full year:\n \n \n o \n Will extend our strong financial track record of growth\n \n \n \n Divisional performance\n \n \n \n \n Business recovery and financial advisory\n \n \n \n ·\n Segmental revenue growth of c.10%:\n \n \n o \n Insolvency appointments increased in the period including a number of larger, mid-market insolvency and restructuring cases\n \n \n o \n Result of increased activity in administrations and expanded London office and offshore practice\n \n \n ·\n Market-leading positions maintained (by volume of appointments):\n \n \n o \n 14% share of the overall market - ranked first nationally\n \n \n o \n 10% share of administration market - ranked second nationally\n \n \n ·\n Other advisory services, including Mantra Capital the finance brokerage acquired July 2022, traded well in the period with financial performance in line with expectations\n \n \n \n Property advisory and transactional services\n \n \n \n ·\n Segmental revenue growth of c.18%:\n \n \n o \n Reflecting resilient income streams in a challenging economic environment\n \n \n ·\n Budworth Hardcastle (acquired June 2022) traded well in the period and in line with expectations\n \n \n \n Half year results presentation\n \n \n \n The group will report its half year results for the six months ended 31 October 2022 on Tuesday 13 December 2022. There will be a webcast and...