Begbies Traynor delivers '˜solid' full year performance

Professional services firm Begbies Traynor Group said it had achieved a solid performance over the last financial year.

Begbies Traynor delivers 'solid' performance
Begbies Traynor delivers 'solid' performance

The management team is looking to grow the business through acquisitions.

The group’s revenue from continuing operations in the year ended April 30 2017 was £49.7m compared with £50.1m the year before. Adjusted profit before tax increased to £4.9m from £4.5m.

Sign up to our Business newsletter

In a statement, the group said the business was strongly cash generative, “enabling funding of acquisition payments while reducing net debt”.

Ric Traynor, the executive chairman of Begbies Traynor Group, said: “We have had a year of further progress in developing the group and broadening its service offerings, with earnings in line with expectations.

“The results reflect a solid performance in business recovery together with the benefit of our diversification into property services, which now contributes approximately 30 per cent of the group’s revenue and profit, and is an important focus of our growth strategy.

“We remain the leading UK corporate appointment taker by volume and are well-positioned to take advantage of the cyclicality of this market.

“Looking forward, we anticipate a growth in earnings in the new financial year as the board continues to look for further opportunities to develop and enhance the business, both organically and through selective acquisitions.”