AGM Statement

RNS Number : 8784Z

Begbies Traynor Group PLC

23 September 2015

 



23 September 2015

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 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.

Trading in the first quarter of the current financial year was ahead of the same period last year and in line with our expectations; performance benefited from the Eddisons' acquisition and a reduced cost base in the insolvency division.

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."

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

- ENDS -

Enquiries please contact:

Begbies Traynor Group PLC                                                                     0161 837 1700

Ric Traynor - Executive Chairman

Nick Taylor - Group Finance Director

Canaccord Genuity Limited                                                                      020 7523 8350

(Nominated Adviser and Joint Broker)

Bruce Garrow

Shore Capital                                                                                            020 7408 4090

(Joint Broker)

Pascal Keane

MHP Communications                                                                               020 3128 8100/8794

Reg Hoare / Katie Hunt / Giles Robinson

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

 

END

 

 

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