Begbies Traynor FY 2022 Profit Rose on Acquisitions, Improved Environment

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By Joe Hope

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Begbies Traynor Group PLC said Tuesday that its fiscal 2022 pretax profit and revenue rose, thanks to acquisitions and an improved business environment, and that it expects to meet the upper end of market views for fiscal 2023.

The business recovery, financial advisory and property services consultancy said that, for the year ended April 30, pretax profit rose to 4.0 million pounds ($4.8 million) from GBP1.9 million a year prior.

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Revenue rose to GBP110.0 million from GBP83.8 million in fiscal 2021, reflecting a material increase in its scale and service offerings.

The board proposed a final dividend of 2.4 pence, bringing the total dividend for the year up to 3.5 pence a share, from 3.0 pence a year before.

The company said it has started the new financial year in a strong position and that it is confident in delivering plans for further growth toward the top end of current market expectations. Begbies Traynor provided market expectations for fiscal 2023, forecasting revenue of between GBP110.0 million to GBP118.0 million and an adjusted pretax profit of GBP18.5 million to GBP19.7 million.

Write to Joe Hoppe at [email protected]

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Credit: www.marketwatch.com /

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