BEGBIES TRAYNOR GROUP PLC

Earnings Release • Feb 23, 2021

National Storage Mechanism | Additional information

RNS Number : 9449P

Begbies Traynor Group PLC

23 February 2021

23 February 2021

Begbies Traynor Group plc

Third Quarter Trading Update

Begbies Traynor Group plc (the "group"), the business recovery, financial advisory and property services consultancy, today issues a trading update for its third quarter ended 31 January 2021.

The group has continued its strong trading performance since the half year across both of its operating divisions. This performance leaves us confident of the outcome for the full year and delivering results at least in line with expectations* for the year as a whole.

The business recovery and financial advisory business continues to perform well, maintaining its run rate for activity levels and new appointments. This is in spite of the continuing Government economic support measures, which as previously reported have reduced the number of insolvencies in the UK since March 2020.

The integration of the recently acquired CVR insolvency business (announced 18 January 2021) is proceeding well and initial trading is in line with our expectations.

The property advisory and transactional services business has delivered a robust performance in the quarter with no adverse impact from the lockdown restrictions over the period, and in line with its second quarter recovery. The recently announced acquisition of HNG and our ongoing investment in complementary property services continues to build our depth and breadth of service together with our geographic coverage.

The group has maintained its strong financial position with significant levels of headroom within our committed bank facilities, having made the recent investments in CVR and HNG.

* current range of analyst forecasts for adjusted PBT of £10.2m-£10.7m

Ric Traynor, Executive Chairman of Begbies Traynor Group plc, commented:

"The group continues to perform well which gives us confidence in delivering results at least in line with expectations for the current year. With the benefit of recent acquisitions and other organic growth initiatives the group is also well positioned to deliver the anticipated material growth in earnings in the 2021-22 financial year."

Enquiries please contact:

Begbies Traynor Group plc                                                             0161 837 1700

Ric Traynor - Executive Chairman

Nick Taylor - Group Finance Director

Canaccord Genuity Limited                                                            020 7523 4588

(Nominated Adviser and Joint Broker)

Emma Gabriel / Angelos Vlatakis

Shore Capital                                                                                    020 7408 4090

(Joint Broker)

Mark Percy / Anita Ghanekar

MHP Communications                                                                     020 3128 8168

Reg Hoare / Katie Hunt / Florence Mayo                                           begbies@mhpc.com 

Information on Begbies Traynor Group can be accessed via the Group's website at

www.begbies-traynorgroup.com/investor-relations

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

TSTSEFFMEEFSEDE