Strong six months for Begbies Traynor as revenues surge 40%

Ric Traynor, Begbies Traynor

Half year revenues have jumped nearly 40% for professional services firm Begbies Traynor.

The Manchester-listed company said it is confident of delivering market expectations for the full year following the strong performance coupled with an anticipated increase in national insolvency numbers after the government removed its pandemic support measures.

Revenues for the six months to 31 October 2021 were £52.3m, up by 39% from last year’s £37.5m as the group experienced organic growth and successfully integrated recent acquisitions having snapped up MAF Finance Group in May and Fernie Greaves Chartered Surveyors in October.

Pre-tax profits for the period climbed from £500,000 to £2.7m.

Ric Traynor, executive chairman of Begbies Traynor Group, said: “I am pleased to report a strong financial performance in the period, which is testament to the benefit and integration of our recent acquisitions and maintains our track record of growth in revenue and adjusted earnings.

“This strong performance, and an anticipated increase in national insolvency numbers following the removal of the Government’s pandemic support measures, leaves us confident of delivering market expectations for the full year.

“We have a strong platform for growth, and we continue to progress a pipeline of acquisition opportunities, which together with organic growth initiatives across the group, will enable us to build upon our track record and we remain confident in our outlook for the current year and beyond.”

The board has announced a 10% increase in the interim dividend, building on the increases of the previous four years.

Click here to sign up to receive our new South West business news...
Close