Business
Year End Trading Update and Notice of Results
Year End Trading Update and Notice of Results.
About this update from Btg Consulting Plc
[{"type":"text","content":"\n \n \n 19 May 2022\n \n \n \n Begbies Traynor Group plc \n \n \n \n \n Year end trading update\n \n \n \n \n Notice of full year results\n \n \n \n \n Results expected to be comfortably ahead of market expectations\n \n \n \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 its financial year ended 30 April 2022.\n \n \n \n Summary\n \n \n \n · \n Results expected to be comfortably ahead of market expectations* and significantly ahead of prior year:\n \n \n o \n Revenue** expected to increase by c.30% to c.£109.5m (2021: £83.8m)\n \n \n o \n Adjusted PBT** expected to increase by c.55% to c.£17.8m (2021: £11.5m)\n \n \n · \n Reflects material increase in scale and scope of the group since 2021 following acquisitions\n \n \n · \n Maintains strong track record of growth in both revenue and profitability, with improved operating margins in the year\n \n \n · \n Net cash** of £4.7m at 30 April 2022 (2021: £3.0m)\n \n \n \n * market consensus (as compiled by the company) for revenue of £105.1m and adjusted PBT of £17.2m\n \n \n \n \n ** all numbers in this statement subject to audit\n \n \n \n \n \n \n \n \n \n Divisional performance\n \n \n \n \n Business recovery and financial advisory\n \n \n \n · \n Strong financial performance with segmental revenue growth of c.35% at improved margins\n \n \n · \n Growth driven by acquisitions completed since 2021 which have delivered strong results and integrated well into the business\n \n \n · \n Activity levels increased over the year resulting from increased volume of liquidations\n \n \n · \n Insolvency numbers nationally returned to pre-pandemic levels as government support measures removed:\n \n \n o \n Corporate insolvencies* increased by 50% to 16,648 (2021: 11,134)\n \n \n o \n Increase to date from liquidations (typically smaller companies) rather than administrations (typically larger and more complex instructions)\n \n \n · \n MAF Finance Group (acquired May 2021) traded well in its first year in the group, with growth in line with earn out thresholds\n \n \n · \n A successful year for corporat...