Begbies Traynor (AIM:BEG) Group PLC said it expects more business failures to help its trading as it reported a jump in half-year revenue, although profit fell.
In the six months ended October 31, the business recovery specialist said revenue rose to £65.9 million, up from £58.5 million last year, although profit slipped to £3.0 million from £5.0 million before.
The firm described it as a strong first-half performance building on a consistent track record of growth in revenue and adjusted earnings.
It said its insolvency and financial advisory performed well with increased year-on-year insolvency activity levels, while property advisory and transactional services continue to provide a solid platform for growth.
Begbies remains confident of delivering full-year results in line with current market expectations and anticipates a continued increase in insolvency activity with financial advisory to deliver a broadly consistent second half.
Property advisory and transactional services are expected to deliver another year of strong growth, it added.
The dividend was increased to 1.3p from 1.2p.