Begbies Traynor (AIM:BEG) Group PLC reported strong growth at the half-year stage with a double-digit rise in revenues and profit growth from both its divisions.
Revenue in the half year ended 31 October 2022 increased by 12% to £58.5mln while profit before tax nearly doubled to £5.0mln from £2.7mln.
“We have continued to grow our business recovery and financial advisory division, both organically and through acquisitions” the company stated.
The corporate restructuring specialist said it is confident of delivering full-year results in line with current market expectations for revenue of £117.7mln to £121.4mln and adjusted pre-tax profits of £19.7mln to £20.6mln.
It said the order book in business recovery was up 15% in the last six months, while the financial advisory business had seen an encouraging pipeline of engagements.
Ric Traynor, executive chairman said: "We expect continued growth from business recovery and financial advisory, given its increased order book, higher level of enquiries and increasing economic headwinds.”
“We are also confident in the prospects for property advisory and transactional services, reflecting its resilient income streams, continuing flow of new instructions and potential to continue developing its mix of services.”