Financial Express (Holdings) Limited (“we”, “our”, “us” and derivatives) are committed to protecting and respecting your privacy. This Privacy Policy, together with our Terms of Use, sets out the basis on which any personal data that we collect from you, or that you provide to us, will be processed by us relating to your use of any of the below websites (“sites”).


For the purposes of the Data Protection Act 1998, the data controller is Trustnet Limited of 2nd Floor, Golden House, 30 Great Pulteney Street, London, W1F 9NN. Our nominated representative for the purpose of this Act is Kirsty Witter.


We collect information about you when you register with us or use any of our websites / services. Part of the registration process may include entering personal details & details of your investments.

We may collect information about your computer, including where available your operating system, browser version, domain name and IP address and details of the website that you came from, in order to improve this site.

You confirm that all information you supply is accurate.


In order to provide personalised services to and analyse site traffic, we may use a cookie file which is stored on your browser or the hard drive of your computer. Some of the cookies we use are essential for the sites to operate and may be used to deliver you different content, depending on the type of investor you are.

You can block cookies by activating the setting on your browser which allows you to refuse the setting of all or some cookies. However, if you use your browser settings to block all cookies (including essential cookies) you may not be able to access all or part of our sites. Unless you have adjusted your browser setting so that it will refuse cookies, our system will issue cookies as soon as you visit our sites.


We store and use information you provide as follows:

  • to present content effectively;
  • to provide you with information, products or services that you request from us or which may interest you, tailored to your specific interests, where you have consented to be contacted for such purposes;
  • to carry out our obligations arising from any contracts between you and us;
  • to enable you to participate in interactive features of our service, when you choose to do so;
  • to notify you about changes to our service;
  • to improve our content by tracking group information that describes the habits, usage, patterns and demographics of our customers.

We may also send you emails to provide information and keep you up to date with developments on our sites. It is our policy to have instructions on how to unsubscribe so that you will not receive any future e-mails. You can change your e-mail address at any time.

In order to provide support on the usage of our tools, our support team need access to all information provided in relation to the tool.

We will not disclose your name, email address or postal address or any data that could identify you to any third party without first receiving your permission.

However, you agree that we may disclose to any regulatory authority to which we are subject and to any investment exchange on which we may deal or to its related clearing house (or to investigators, inspectors or agents appointed by them), or to any person empowered to require such information by or under any legal enactment, any information they may request or require relating to you, or if relevant, any of your clients.

You agree that we may pass on information obtained under Money Laundering legislation as we consider necessary to comply with reporting requirements under such legislation.


We want to ensure that the personal information we hold about you is accurate and up to date. You may ask us to correct or remove information that is inaccurate.

You have the right under data protection legislation to access information held about you. If you wish to receive a copy of any personal information we hold, please write to us at 3rd Floor, Hollywood House, Church Street East, Woking, GU21 6HJ. Any access request may be subject to a fee of £10 to meet our costs in providing you with details of the information we hold about you.


The data that we collect from you may be transferred to, and stored at, a destination outside the European Economic Area (“EEA”). It may be processed by staff operating outside the EEA who work for us or for one of our suppliers. Such staff may be engaged in, amongst other things, the provision of support services. By submitting your personal data, you agree to this transfer, storing and processing. We will take all steps reasonably necessary, including the use of encryption, to ensure that your data is treated securely and in accordance with this privacy policy.

Unfortunately, the transmission of information via the internet is not completely secure. Although we will do our best to protect your personal data, we cannot guarantee the security of your data transmitted to our sites; any transmission is at your own risk. You will not hold us responsible for any breach of security unless we have been negligent or in wilful default.


Any changes we make to our privacy policy in the future will be posted on this page and, where appropriate, notified to you by e-mail.


Our sites contain links to other websites. If you follow a link to any of these websites, please note that these websites have their own privacy policies and that we do not accept any responsibility or liability for these policies. Please check these policies before you submit any personal data to these websites.


If you want more information or have any questions or comments relating to our privacy policy please email [email protected] in the first instance.

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Begbies Traynor (BEG)

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Monday 12 March, 2012

Begbies Traynor

Trading Update

RNS Number : 1045Z
Begbies Traynor Group PLC
12 March 2012


12 March 2012



("the Group")


Trading Update


Begbies Traynor Group plc, the specialist professional services consultancy, in accordance with its financial calendar today issues a trading update for its third quarter ended 31 January 2012. 


Group performance

Group profit from continuing operations (stated before amortisation and exceptional items) for the nine months ended 31 January 2012 has been in line with that achieved in the prior year comparative period. The outcome for the year will be dependent on performance in the final quarter, historically a busy trading period. 


Continuing operations

The core insolvency and restructuring division has reported improved profits and margins for the first nine months of the financial year, reflecting the benefit of cost savings implemented in prior periods. Activity levels in the UK insolvency market remain subdued, due in part to the continuation of the benign financing environment of low interest rates, whilst the realisation of assets remains constrained. 


In light of the trading environment, we continue to focus on our cost base. Headcount in insolvency has reduced from 501 at the last year end (30 April 2011) to 470 as at 31 January 2012, a reduction of 6.2%. Ongoing efficiency initiatives will incur exceptional costs in the second half of the current financial year with the benefit to be realised in future periods.


As stated in our half year results announcement in December 2011, the Global Risk Partners division has not yet replaced a number of large and profitable engagements, which were completed at the start of the financial year. The sales pipeline remains strong although any new engagements are not now expected to materially benefit the current financial year. We have continued to invest in the division through senior recruitment in the UK forensic business, the cost of which will have a short-term impact on profitability.  Overall, the division is expected to generate a small loss in the second half of the financial year.


Discontinued operations

Since the half year results, we completed the disposal of the Channel Islands Insolvency and Restructuring business.  We continue to make progress with the divestment of the Red Flag business and expect to complete a transaction by the end of the current financial year.


Net debt

The Board currently expects net debt at the end of the current financial year to be at a similar level to that at 31 October 2011, comfortably within the Group's banking facilities.


Commenting, Ric Traynor, Executive Chairman of Begbies Traynor Group, said:


"Our core insolvency business has maintained its market leading position and continues to benefit from cost savings, resulting in improved profits and margins. The Group outcome for the financial year as a whole will be dependent on the important final quarter's trading.


"Having made good progress with our disposal programme, we remain highly focussed on maximising the performance of the core businesses."


Enquiries please contact:


Begbies Traynor Group PLC                                                                         0161 837 1700

Ric Traynor - Executive Chairman

Nick Taylor - Group Finance Director


Collins Stewart Europe Limited                                                                    020 7523 8350

(Nominated Adviser and Joint Broker)

Mark Dickenson / Bruce Garrow


Shore Capital                                                                                                020 7408 4090

(Joint Broker)

Pascal Keane


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


This information is provided by RNS
The company news service from the London Stock Exchange

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