Begbies Traynor Group plc is an AIM-listed professional services consultancy delivering solutions for businesses, financial institutions and professional advisers in the areas of corporate recovery, restructuring and turnaround, corporate finance, forensic accounting, investigations and security risk.

The Group serves its clients via an extensive UK office network and through an international association of approved partner firms which enables it to draw together specialist teams from around the world to meet specific cross-jurisdictional challenges.

22 May 2023

Update shows FY23 well ahead of forecasts

The FY23 trading update notes a strong performance for the 12 months to end April 2023, well ahead of our forecasts. BEG has progressively built scale and prolife in key target competencies and markets and benefited from its enhanced reputation as a provider of mid-market insolvency services.

The announcement anticipates double digit growth y-o-y; revenues 11% ahead at £122m (FY22: £110m), adjusted PBT 16% up at £20.7m (FY22: £17.8m). Predicted end FY23 net cash should be in line with our prediction at £3m (2022: £5m), despite £11m of acquisition/earn out payments during the period.

Both group divisions performed well. Revenues from Business Recovery and Financial Advisory were 10% ahead of the prior year and include 6% organic growth in business recovery activities. Property Advisory and Transactional Services recorded 12% segmental revenue growth (3% organic).

We shall publish FY24e forecasts shortly after further analysis, but the Group outlook for further growth is certainly confident which underpins our current 175p / share fair value estimate.

Download as a PDF file

Return to Begbies Traynor

Register to be first

Get research on the companies that interest you straight to your inbox

Equity Development is a partner to successful companies looking to enhance their investor relations. Our top-rated analysts produce best in class investment research. Based in London, UK, we help our clients connect with investors via presentations and interviews.

Equity Development Limited 2nd Floor, Park House, 16-18 Finsbury Circus, London, EC2M 7EB

Website design & development by Breckenridge