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11 December, 2019 - 17:40 By Tony Quested

Begbies Traynor delivers strong revenue growth and hoists profit

Corporate recovery group Begbies Traynor has seen a 21 per cent growth in revenue to £33.8 million in the six months to the end of October 2019. 

Pre-tax profit also soared to £1.9m from £0.5m year-on-year and the firm upped the interim dividend by 13 per cent, building on increases of the previous two financial years.

Executive chairman Ric Traynor said: “I am pleased to report a strong half year financial performance with growth in revenue and earnings, together with improved operating margins. This reflects the benefit of the recent organic development of the group and our investment in acquisitions.

“The increased scale of the group’s activities, favourable conditions in the UK insolvency market and our strong financial position leaves the group well placed to continue our track record of revenue and profit growth.

“Following a strong financial performance in the first half of the year, the board remains confident of delivering results at least in line with current market expectations for the full year, including the benefit of the first-time contribution in the second half from our recent acquisitions.”

Locally, Begbies Traynor has offices in Cambridge, Peterborough, Milton Keynes, Bedford, Luton, Colchester, Northampton, Southend and Watford.

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