Begbies Traynor on track for year of growth

Following a successful third quarter, business recovery, financial advisory and property services consultancy Begbies Traynor Group has announced that it remains on course for a year of growth.

The group said that the financial performance to January 31 has been "broadly in line with" the first half year, which leaves the full year anticipated to be within the range of market expectations and significantly ahead of last year. 

Over the course of this financial year, insolvency numbers have returned to pre-pandemic levels due to increased liquidations, although administrations (typically larger and more complex instructions) remain much lower than pre-pandemic levels. A return to more normal activity levels in this marketplace is now more likely to benefit the company's new financial year rather than the current year.

The property advisory & transactional services division continues to perform in line with expectations and reflects the contribution from the two acquisitions completed in the current financial year.

Ric Traynor, executive chairman of Begbies Traynor Group plc, said: "We have performed well in Q3, benefiting from the integration of our recent acquisitions and our broad range of complementary services which provide a strong platform for growth.

"Although insolvency numbers are inexorably rising, the market is still awaiting a rise in the larger and more complex instructions that may result from the current economic headwinds and the removal of the final government financial support measures in March."

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