Begbies Traynor (AIM:BEG) Group PLC said it expects results for the current financial year to be at the top end of market forecasts as it reported numbers for the year to end-April “comfortably ahead” of predictions.
In its earnings statement, the business recovery, financial advisory and property services consultancy announced revenue of £110mln for the 12 months to 30 April 2022, a rise of 31% on the prior year.
Operating margins rose to 16.9% from 14.8%, resulting in adjusted pretax profits growing 55% to 17.8mln.
"We have reported a further successful year for the group, with financial performance comfortably ahead of original market expectations due to acquisitions and improved trading,” commented executive chairman Ric Traynor.
The company hiked its full-year dividend 17% to 3.5p on the back of the strong performance.
It ended the year with net cash of £4.7mln, up from £3mln 12 months earlier.
The company said it had a strong start to the current financial year, with insolvency volumes now back to pre-pandemic levels and expected to increase further this year and beyond.
"We have started our new financial year in a strong position and are confident of delivering our plans for further growth. At this early stage of the year, we anticipate results towards the top end of current market expectations,” said Traynor.
"Our healthy balance sheet and cash generation underpin our capacity to make further acquisitions and deliver organic growth initiatives, thereby continuing our track record of growth.”