Business
Trading Update/Acquisition
Trading Update/Acquisition.
About this update from Btg Consulting Plc
[{"type":"text","content":"\n Begbies Traynor Group PLC\n15 November 2005\n\n\n\n\nRNS Release\n\n15th November 2005\n\n Begbies Traynor Group plc\n\n Pre-Close Trading Update\n\n and\n\n Acquisition of W3 Debt Solutions\n\n\nThe Board of Begbies Traynor Group plc ('BTG' or 'the Group') (AIM: BEG), the\nUK's largest independent firm of business rescue and restructuring specialists,\nis pleased to provide an update on current trading in advance of interim results\nfor the six months to 31 October 2005, which will be released on 16 January\n2006.\n\n\nBTG has made good progress and remains on track to deliver growth in line with\ncurrent market expectations and the Group's plan to double its share of the\naccessible corporate recovery market to 10% by the end of 2007. Despite the\nrecent apparent upswing in the volumes of personal insolvencies, the corporate\nmarket remains stable at the levels consistently seen over the recent past.\nTherefore, delivery of planned growth continues to be mainly driven by\nacquisitions.\n\n\nThe integration of the Group's largest acquisition to date, that of insolvency\nspecialists Taylor, Gotham and Fry (TGF) in August, is proceeding well with\npleasing progress made in merging this business with our existing South Eastern\nregional operation. Acquiring TGF marked an important strategic development\nfor the Group, adding an extra level of presence in the South East. This is a\nregion of key economic importance and one we see offering significant organic\ngrowth opportunities for all of BTG's insolvency and corporate recovery\nservices.\n\n\nAlso progressing to plan is the integration of MCF, the Leeds-based corporate\nfinance operation acquired in May 2005, that specialises in advice and\ntransactions in the mid-corporate market. We have begun the process of expanding\nthis activity into the other major cities in which the Group operates.\n\n\nA longer-term Group strategic goal is to offer an increasing number of services\nclosely related to insolvency and corporate turnaround. FDB International, the\ncommercial investigation and security agency acquired by BTG in June, has yet to\ndevelop its potential from membership of the Group. It is receiving additional\nsenior management input to ensure greater value is produced from the Group's\ninvestment over time.\n\n\nAcquisition of W3 Debt Solutions LLP\n\n\nBTG is now entering...