Begbies Traynor (AIM:BEG) Group PLC said its third-quarter performance was in line with that seen in its first half and that it remains “confident” of meeting market expectations for the full year.
Analysts’ forecasts for the current year are for revenue of £117.7mln-£121.4mln and adjusted pre-tax profit of £19.7mln-£20.6mln, the business recovery, financial advisory and property services consultancy said.
It noted that its business recovery & financial advisory division traded in line with expectations in the third quarter to 31 January 2023, with business recovery seeing “an encouraging level” of new insolvency appointments across all market segments, including higher-value cases such as the on-going administration of Paperchase, which put itself up for sale in January.
The financial advisory business has “a good pipeline of engagements” to meet expectations for the year, Begbies Traynor said, while the property advisory & transactional services division also continues to perform well and in line with expectations.
"We have continued to perform well across the group and our outlook for the full year remains unchanged. This will extend our strong financial track record of growth, through a combination of organic and acquisitive investment," commented Ric Traynor, executive chairman of Begbies Traynor in the third quarter trading update.
Begbies Traynor shares rose 2.88% to 135.80p in early deals on Monday.