StockMarketWire.com - Begbies Traynor has traded in line with its expectations in the first quarter of the current financial year, shareholders at the annual general meeting today will be told.

Executive chairman Ric Traynor will say: 'Last year was one of further progress in developing the Group and broadening its service offerings, with property services now representing approximately 30% of the Group's revenue and profit.

'In line with our strategy to further develop our property services offering, we invested in expanding our property valuation team and following the acquisition of Pugh & Co in June 2016, we are now the largest regional firm of commercial property auctioneers (by number of lots).

'The Group has traded in line with our expectations in the first quarter of the current financial year.

'Activity levels in business recovery, over the typically quieter summer months, have continued to show year on year improvements as previously reported. Property services is performing in line with our previous guidance.

'The Government insolvency statistics for the six months to June 2017 showed a 2% increase in the number of corporate insolvency appointments to 7,567 appointments compared to 7,441 in the same period of 2016, which is the first like for like increase in appointments since 2009.

'Overall, we continue to anticipate growing earnings in the new financial year as we look for further opportunities to develop and enhance the business, both organically and through selective acquisitions.'






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