Andrada Mining acquisition elevates the miner to emerging mid-tier status. Watch the video here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksBegbies Share News (BEG)

Share Price Information for Begbies (BEG)

London Stock Exchange
Share Price is delayed by 15 minutes
Get Live Data
Share Price: 102.00
Bid: 100.00
Ask: 101.50
Change: 0.00 (0.00%)
Spread: 1.50 (1.50%)
Open: 102.50
High: 102.50
Low: 100.50
Prev. Close: 102.00
BEG Live PriceLast checked at -

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

Begbies Traynor lifts dividend after 'strong' first half

Tue, 13th Dec 2022 13:19

(Sharecast News) - Business recovery, financial advisory and property consultancy Begbies Traynor reported a "strong" first half performance on Tuesday, with double-digit revenue and profit growth in both of its divisions.

The AIM-traded firm said revenue was ahead 12% year-on-year in the six months ended 31 October, at £58.5m, while adjusted profit before tax was 13% firmer at £9m.

Adjusted EBITDA increased to £11.9m from £11.1m, while profit before tax came in at £5m, compared to £2.7m a year earlier.

The company said adjusted diluted earnings per share improved to 4.4p from 3.9p, as the firm swung to diluted earnings of 2.3p per share, from losses of 0.2p per share in the first half of the 2022 financial year.

Its board hiked the interim dividend to 1.2p from 1.1p, building on its 10% compound annual growth in the dividend since 2017.

The company said it had a "strong" balance sheet and "significant" levels of headroom within its committed bank facilities, meaning it was "well-placed" to continue to invest in its organic and acquisitive growth strategy.

Net debt at period-end on 31 October totalled £2.4m, after £7.4m of acquisition-related payments in the six months.

Looking ahead, Begbies Traynor said it was "confident" of delivering full-year results in line with current market expectations, extending its "strong" financial track record of growth.

In business recovery, it said its order book was up 15% in the last six months to £33.9m, amid higher level of enquiries and increasing economic headwinds.

Financial advisory meanwhile had an "encouraging" pipeline of engagements, while property advisory and transactional services saw "resilient" income streams and a "continuing flow" of new instructions.

"The group's strong performance builds on our consistent track record of growth, with double digit increases in revenues and profits from both divisions which we have continued to grow organically and through acquisitions," said executive chairman Ric Traynor.

"We expect continued growth from business recovery and financial advisory, given its increased order book, higher level of enquiries and increasing economic headwinds.

"We are also confident in the prospects for property advisory and transactional services, reflecting its resilient income streams, continuing flow of new instructions and potential to continue developing its mix of services."

Overall, Traynor said the company remained "confident" in delivering on full-year expectations.

"Our broad range of services, diversified client base, organic growth initiatives and pipeline of acquisition opportunities, combined with increasing counter-cyclical activity, will enable us to continue to build upon our strong track record in the current year and beyond."

Begbies Traynor said it would issue a third-quarter trading update in late February.

At 1255 GMT, shares in Begbies Traynor Group were down 6.68% at 137p.

Reporting by Josh White for Sharecast.com.

More News
30 Apr 2018 11:51

CORRECT (Mar 6): Begbies Traynor Buys Springboard Corporate Finance (ALLISS)

(Updating with a company-issued adjustment to corporate insolvencies in 2017 to 15,112 from 16,112.)LONDON (Alliance News) - Business recovery and property services consultancy Begbies PLC

Read more
25 Apr 2018 14:37

DIRECTOR DEALINGS: Begbies Traynor Business Recovery Head Sells Shares

LONDON (Alliance News) - Begbies Traynor Group PLC said that Head of Business Recovery and Advisory Mark Fry sold 16,444 shares at a price of 67.0 pence per share on Tuesday.It has not been

Read more
25 Apr 2018 13:35

Begbies Traynor Says More UK Business Now In Distress After Brexit

LONDON (Alliance News) - Corporate recovery and professional services firm Begbies Traynor Group PLC said Wednesday there are 33% more companies in financial distress than there were before the of

Read more
6 Mar 2018 12:39

Begbies Traynor Buys Corporate Finance Practice Springboard (ALLISS)

LONDON (Alliance News) - Business recovery and property services consultancy Begbies Traynor Group PLC said Tuesday it acquired Springboard Corporate Finance Ltd for in a cash

Read more
20 Jan 2017 12:13

DIRECTOR DEALINGS: Begbies Traynor Senior Manager Sells Shares

Read more
13 Dec 2016 08:21

Begbies Traynor Profit And Revenue Dip, Dividend Flat

Read more
24 Oct 2016 09:58

Number Of UK Firms In Distress Falls In 3rd Quarter - Begbies Traynor

Read more
18 Jul 2016 08:50

Begbies: UK Firms Well Placed To Cope With Brexit But Turmoil Ahead

Read more
12 Jul 2016 11:43

Begbies Traynor profits held back by low insolvency rates

(ShareCast News) - Shares in business services consultancy Begbies Traynor slumped even as the company swung to a full year pre-tax profit of £0.6m from a loss of £0.7m as revenues rose to £50.1m from £45.4m, although lower insolvency rates impacted on both figures. Adjusted pre-tax profits were up

Read more
12 Jul 2016 09:45

WINNERS & LOSERS SUMMARY: Positive Updates Boost Galliford And Dechra

Read more
12 Jul 2016 07:43

Begbies Traynor Turns To Annual Profit As Property Services Grows

Read more
5 Jul 2016 15:04

UK Earnings, Trading Statements Calendar - Next 7 Days

Read more
3 Jun 2016 08:52

Begbies Traynor buys Pugh Auction Group for £2m

(ShareCast News) - Property services group Begbies Traynor said it had bought Pugh Auction Group for £2m in cash. Begbies said Pugh's 25 staff, including management, would be integrated with the group's existing Eddisons property services division. Pugh & Co was established in 2000 and is the large

Read more
3 Jun 2016 06:31

Begbies Traynor Snaps Up Property Auctioneer Pugh Auction Group

Read more
15 Apr 2016 07:28

REPEAT: Brexit Could Tip 21,000 UK Manufacturers Over Edge - Report

Read more

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.