Recovery specialist in decent shape
BUSINESS recovery specialist Begbies Traynor – which has operations in Birmingham and Stoke-on-Trent – has reported positive results in its third quarter up to January 31.
Trading, including the post-acquisition performance of the Eddisons business, was in line with the board’s expectations and the company’s outlook for the year remains unchanged.
Although quarterly corporate insolvency appointments continue to show year on year declines, the number of insolvencies in the final three quarters of 2014 year stabilised at an average of about 4,100 per quarter.
In 2014, there were 17,117, compared to 18,856 the previous year, representing a 9% year on year decrease.
Meanwhile, the primary focus since the acquisition of chartered surveyor Eddisons has been to integrate the operational teams to deliver “anticipated synergies” and good progress has been made to date, the company says
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Ric Traynor, executive chairman of Begbies Traynor Group, said: “Increased activity levels in the typically busier winter months for insolvency leave the group well placed to deliver the board’s expectations for the year as a whole.”
“I am pleased with the initial progress in integrating Eddisons into the group; their team adds significant expertise in the valuation and disposal of property and business assets for insolvency, which is intrinsic to the group’s core insolvency practice, as well as expanding our service offering into other areas of property advice.”
