Date Published: 9th July 2019
Begbies Traynor Group plc (the 'company' or the 'group'), the business recovery, financial advisory and property services consultancy, today announces its final results for the year ended 30 April 2019.
|Adjusted profit before tax*||7.1||5.6|
|Profit before tax||3.5||2.3|
|Adjusted basic EPS**(p)||4.9||4.0|
|Basic EPS (p)||2.2||1.3|
|Proposed total dividend (p)||2.6||2.4|
* Profit before tax of £3.5m (2018: £2.3m) plus amortisation of intangible assets arising on acquisitions of £2.4m (2018: £1.9m) and transaction costs of £1.2m (2018: £1.4m)
** See reconciliation in Full Statement FY 2019
* Expectations upgraded in the full year trading update on 7 May 2019
** Operating profit before amortisation and transaction costs
Commenting on the results, Ric Traynor, Executive Chairman of Begbies Traynor Group, said:
"We have reported another year of strong financial performance, ahead of our original expectations, in which we have grown the business organically, completed four acquisitions and increased the dividend whilst reducing net debt. All areas of the group performed well, reflecting the benefits of recent organic investment, an increase in market activity and the good performance of recent acquisitions.
"Looking ahead, we are better positioned than ever with multiple sources of potential growth supported by a strong financial platform. There is currently uncertainty in the UK economy as a result of the Brexit process, but with a combination of our counter-cyclical activities together with our breadth of services, we are well placed to continue our track record of growth in the new financial year and beyond."
Ric qualified with Arthur Andersen in 1984 and founded Begbies Traynor in 1989. Ric specialises in practice management and has considerable experience in financial turnaround and dispute resolution within professional practices.