Begbies Traynor Group PLC Third Quarter Trading Update (6686Y)
March 07 2017 - 1:00AM
UK Regulatory
TIDMBEG
RNS Number : 6686Y
Begbies Traynor Group PLC
07 March 2017
7 March 2017
Begbies Traynor Group plc
Third Quarter Trading Update
Begbies Traynor Group plc ("'the Group"), the business recovery
and property services consultancy, today issues a trading update
for its third quarter ended 31 January 2017.
Our expectations for the year as a whole remain unchanged. We
have seen an improvement in activity levels in our insolvency
business in the third quarter, as anticipated at the time of our
half year results which we reported in December 2016. This leaves
us well placed for a strong last quarter albeit our work in
progress in both the insolvency and property services businesses
includes a number of engagements with fees contingent upon
completion prior to the year end.
The insolvency market has continued to show signs of stability,
albeit at historically lower levels of activity, with an estimated
14,706 company insolvencies in England & Wales for the year
ended 31 December 2016 compared to 14,657 in 2015*.
*Source: The Insolvency Service quarterly insolvency statistics,
27 January 2017, excluding the one off effect of 1,796 connected
personal service companies which entered liquidation on the same
date following changes to claimable expenses rules.
Ric Traynor, Executive Chairman of Begbies Traynor Group plc,
said:
"Overall, we are encouraged to see some market stability and the
increased activity levels typical of the busier winter months for
insolvency, complemented by the benefit of our investment in
property services. We continue to look for opportunities to develop
the Group both organically and through selective acquisitions."
- 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)
Mark Percy / Anita Ghanekar
MHP Communications 020 3128 8100
Reg Hoare / Katie Hunt / Giles Robinson
The information communicated in this announcement contains
inside information for the purposes of Article 7 of the Market
Abuse Regulation (EU) No. 596/2014.
About Begbies Traynor Group:
Begbies Traynor Group is a business recovery and property
services consultancy, providing services nationally from a
comprehensive network of UK locations, through two operating
divisions: Begbies Traynor and Eddisons.
Begbies Traynor is the UK's leading independent business
recovery practice handling the largest number of corporate
appointments, principally serving the mid-market and smaller
companies. We provide a range of specialist professional services
primarily to businesses, their professional advisors and the major
banks covering insolvency, restructuring and risk management
activities.
Eddisons is a leading UK firm of chartered surveyors, offering a
wide range of specialist services to banks, insolvency
practitioners, and owners and occupiers of commercial property. The
core services offered are valuation and disposal of property
including fixed charge property receiverships; valuation and
disposal of machinery and business assets; auctions; insolvency
insurance brokerage; property and facilities management; and
building consultancy and ratings valuations.
Further information on Begbies Traynor Group can be accessed via
the Group's website at www.begbies-traynorgroup.com
This information is provided by RNS
The company news service from the London Stock Exchange
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