Begbies Traynor Group PLC Full Year 2019 Trading Update (1114Y)
May 07 2019 - 2:01AM
UK Regulatory
TIDMBEG
RNS Number : 1114Y
Begbies Traynor Group PLC
07 May 2019
7 May 2019
Begbies Traynor Group plc
Full Year 2019 Trading Update
Begbies Traynor Group plc (the "Group"), the business recovery,
financial advisory and property services consultancy, today issues
a trading update for its full year ended 30 April 2019, ahead of
announcing its annual results on 9 July 2019.
The Group performed strongly in the final quarter of the
financial year, as a result of which we now expect our revenue and
profit for the financial year as a whole to be comfortably ahead of
market expectations. This was driven by a number of successful fee
realisations combined with continuing strong performance from both
operating divisions.
Cash collection in the period was significantly ahead of our
expectations, which has resulted in a year end net debt position of
GBP6m.
The integration of our recent acquisitions is proceeding well
and their trading in the initial post-acquisition period is in line
with our expectations.
Ric Traynor, Executive Chairman of Begbies Traynor Group plc,
commented:
"We have had a successful end to our financial year with our
results anticipated to be comfortably ahead of market expectations.
We enter the new financial year with a strong order book and
favourable market conditions, and are well placed to continue our
track record of earnings growth."
Enquiries please contact:
Begbies Traynor Group plc 0161 837 1700
Ric Traynor - Executive Chairman
Nick Taylor - Group Finance Director
Canaccord Genuity Limited 020 7523 4588
(Nominated Adviser and Joint Broker)
Sunil Duggal / Chris Connors
Shore Capital 020 7408 4090
(Joint Broker)
Mark Percy / Anita Ghanekar
MHP Communications 020 3128 8100
Reg Hoare / Katie Hunt
Information on Begbies Traynor Group can be accessed via the
Group's website at
www.begbies-traynorgroup.com
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END
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