Begbies records double-digit growth
Begbies Traynor Group, which has an office in Preston and satellite offices in Blackpool and Lancaster, recorded 19 per cent growth in turnover last year.
The business recovery, financial advisory and property services consultancy registered £83.8m turnover for the year ended 30 April 2021, up on £70.5m the year before.
Profit before tax was £1.9m, though adjusted profit, taking into account transaction costs and amortisation of intangible assets arising on acquisitions, was £11.5m, up 25 per cent over last year's £9.2m.
The group noted that all areas performed well. Business recovery and financial advisory showed strong organic performance against a challenging insolvency market, and its property advisory and transactional services also recorded a strong finish to the year with recovery in activity levels of lockdown-impacted service lines.
Ric Traynor, executive chairman, said: "We have delivered a strong financial performance with another year of growth in revenue and adjusted profits, despite the impact of the Covid-19 pandemic, whilst making substantial investments which have significantly increased the scale of the group and its capabilities.
"The group is in a very strong position as we start our new financial year. The four acquisitions we have completed since the beginning of 2021 have significantly increased the scale of the group and its capabilities, enhancing the support and advice we provide to UK businesses. With the benefit of our recent acquisitions, our organic growth and future acquisition opportunities, we are well positioned to deliver the anticipated material growth in earnings in the new financial year."
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