AGM Statement and Trading Update

RNS Number : 4586K

Begbies Traynor Group PLC

22 September 2016

 

22 September 2016

Begbies Traynor Group plc

AGM Statement

Trading Update

Begbies Traynor Group plc ("the Group"), the business recovery and property services consultancy, is today holding its Annual General Meeting. Ric Traynor, Executive Chairman, will make the following statement:

"Last year was one of solid progress for the group with growth in both revenue and profits, and completion of the integration of our property services division, Eddisons.  We remain well positioned 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.

Our trading in the first quarter of the current financial year was satisfactory. Performance in both divisions was in line with our expectations, despite the continuing challenging levels of market activity.

The Government insolvency statistics* in the most recently reported second quarter of the calendar year showed the number of corporate insolvency appointments was broadly unchanged (3,674 appointments compared to 3,652 in the same period of 2015). For the first six months of the calendar year there was a 2% fall in the number of corporate insolvency appointments to 7,514 compared to 7,664 in the same period of 2015.    

Overall, we continue to be confident of the prospects for the group and will look for further opportunities to develop and enhance the business, both organically and through selective acquisitions."

* Source: The Insolvency Service quarterly statistics of corporate insolvency appointments in England and Wales

- ENDS -

Enquiries please contact:

Begbies Traynor Group PLC                                                                    016 1837 1700

Ric Traynor - Executive Chairman

Nick Taylor - Group Finance Director

Canaccord Genuity Limited                                                                      020 7523 8350

(Nominated Adviser and Joint Broker)

Bruce Garrow / Nilesh Patel

Shore Capital                                                                                            020 7408 4090

(Joint Broker)

Mark Percy / Anita Ghanekar

MHP Communications                                                                               020 3128 8100

Reg Hoare / Katie Hunt / Giles Robinson

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

 

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