Eddisons boosting Begbies
BUSINESS recovery and property services consultancy Begbies Traynor has said it is well placed to take advantage of new opportunities to grow its business both organically and through targeted acquisitions.
In an AGM statement, Ric Traynor, executive chairman, said: “Last year we completed the strategic acquisition of the Eddisons property consultancy; as a result the group is now focussed on two complementary operating divisions which positions us to take advantage of the cyclicality of the insolvency market, where we have maintained our market-leading position by number of appointments, and to develop our property services.”
He said trading in the first quarter of the current financial year had been ahead of the same period last year and in line with the Manchester-based group’s expectations. The performance benefited from the Eddisons’ acquisition and a reduced cost base in the insolvency division, he added.
The group said the Government insolvency statistics in the most recently reported second quarter of the calendar year showed a 5% fall in the number of corporate insolvency appointments (3,992 appointments compared to 4,199 in the same period of 2014). For the first six months of the calendar year there was a 12% fall in the number of corporate insolvency appointments to 8,006 compared to 8,953 in the same period of 2014.
“Overall, the group remains well placed to continue to take advantage of opportunities to develop and enhance the business both organically and through selective acquisitions,” said Traynor.
