StockMarketWire.com - Business recovery and property services consultancy Begbies Traynor posts adjusted pre-tax profits of £2.5m for the six months to the end of October - up from £2.0m last time.

Revenues rose to £25.5m from £20.8m but pre-tax profits of £0.6m were down from £1.5m last time. The interim dividend of 0.6p per share is unchanged.

Executive chairman Ric Traynor said: "I am pleased to report a solid financial performance in the period with results in line with our expectations. The group has delivered growth in revenue and adjusted profit before tax, together with a strong cash performance, in addition to strengthening the business through acquisitions in both of our divisions, one subsequent to the period end.

"With no indications of a change to the benign financing environment in the UK which would cause an increase in insolvency levels, we remain cautious about activity levels in the insolvency division in the near term and will continue to focus on managing costs accordingly.

"The Eddisons business, which was acquired in December 2014, has continued to perform in line with expectations and the remainder of the financial year will benefit from the acquisition of the Taylors business.

"Overall, our expectations for the year as a whole remain unchanged. We will continue to look for opportunities to develop and enhance the group, both organically and through selective acquisitions. We will provide an update on third quarter trading in early March 2016."








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