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Begbies Traynor (BEG)

Begbies Traynor

Full Year 2019 Trading Update
RNS Number : 1114Y
Begbies Traynor Group PLC
07 May 2019
 

7 May 2019

 

Begbies Traynor Group plc

 

Full Year 2019 Trading Update

 

Begbies Traynor Group plc (the "Group"), the business recovery, financial advisory and property services consultancy, today issues a trading update for its full year ended 30 April 2019, ahead of announcing its annual results on 9 July 2019.

 

The Group performed strongly in the final quarter of the financial year, as a result of which we now expect our revenue and profit for the financial year as a whole to be comfortably ahead of market expectations. This was driven by a number of successful fee realisations combined with continuing strong performance from both operating divisions.

 

Cash collection in the period was significantly ahead of our expectations, which has resulted in a year end net debt position of £6m.

 

The integration of our recent acquisitions is proceeding well and their trading in the initial post-acquisition period is in line with our expectations.

 

Ric Traynor, Executive Chairman of Begbies Traynor Group plc, commented:

 

"We have had a successful end to our financial year with our results anticipated to be comfortably ahead of market expectations. We enter the new financial year with a strong order book and favourable market conditions, and are well placed to continue our track record of earnings growth."

 

 

Enquiries please contact:

           

Begbies Traynor Group plc                                                                  0161 837 1700

Ric Traynor - Executive Chairman

Nick Taylor - Group Finance Director

 

Canaccord Genuity Limited                                                                 020 7523 4588

(Nominated Adviser and Joint Broker)

Sunil Duggal / Chris Connors

 

Shore Capital                                                                                        020 7408 4090

(Joint Broker)

Mark Percy / Anita Ghanekar

           

MHP Communications                                                                         020 3128 8100

Reg Hoare / Katie Hunt

 

 

Information on Begbies Traynor Group can be accessed via the Group's website at
www.begbies-traynorgroup.com


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
 
END
 
 
TSTLLFLFESIRIIA
Data provided by FE fundinfo. Care has been taken to ensure that the information is correct, but FE fundinfo neither warrants, represents nor guarantees the contents of information, nor does it accept any responsibility for errors, inaccuracies, omissions or any inconsistencies herein. Past performance does not predict future performance, it should not be the main or sole reason for making an investment decision. The value of investments and any income from them can fall as well as rise.

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