Begbies Traynor reports double-digit profit growth

Business recovery specialist Begbies Traynor has reported growth in both revenues and profits that were ahead of expectations for the year ended 30 April 2023.

Revenues grew from £110m to £121.8m, resulting in a pre-tax profit increase from £4m to £6m. 

This double-digit growth was recorded across all divisions, including increased insolvency appointments, acquisitions within the finance broking and property advisory and organic growth from property service lines.

Last month, the company celebrated 30 years since it began operating in Preston. 

Ric Traynor, executive chairman of Begbies Traynor Group, said: "We have reported another successful year of continued growth, with reported results ahead of original market expectations and increased our dividend by 9 per cent.

“We have a proven growth strategy which, over the five year period between 2019 and 2023, has doubled revenue and tripled adjusted profit before tax, from a combination of organic growth and acquisitions. This growth has been delivered across insolvency and our full range of advisory and transactional services. 

“We have started our new financial year confident in our outlook. The increased scale of the group with complementary professional services and an enhanced client base provides a strong platform for us to continue delivering growth."