- Begbies Traynor Group, an ndependent business recovery practice, has reported that a reduction in market activity has led to lower year on year revenue which has been partially mitigated by the contributions from recent acquisitions.

It said the first half, which includes the quieter summer months, is a relatively slow trading period, with the bias of activity expected towards the second half. This expectation remains unchanged following the first four months of the year, in line with the Group's typical seasonal trading patterns.

Executive chairman, Ric Traynor, will tell shareholders at today's AGM: "Market conditions remain challenging, with the Government insolvency statistics worse than expected. An 8% decline was reported in the number of corporate insolvency appointments to 8,948 in the first half of calendar year 2014 compared to 9,727 in the same period of 2013." He will also say: "The financial outturn for the full year will be heavily dependent on trading in our traditionally busier second half. However insolvency market conditions remain challenging, which may impact on performance for the full year.

"With the benefit of a strong financial position and committed bank facilities, we are well placed to continue to take advantage of opportunities to enhance the business through both organic investments and selective acquisitions."

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