BEGBIES TRAYNOR GROUP PLC

Regulatory Filings • Mar 24, 2020

National Storage Mechanism | Additional information

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RNS Number : 2954H

Begbies Traynor Group PLC

24 March 2020

24 March 2020

Begbies Traynor Group plc 

Statement re COVID-19

Begbies Traynor Group plc (the 'company' or the 'group'), the business recovery, financial advisory and property services consultancy, today provides an update on its initial response to the COVID-19 outbreak. We continue to closely monitor and act upon the information released by the authorities.

Our top priority is the health, safety and well-being of our colleagues, with whom we are communicating regularly.  We have quickly enabled the majority of our employees to work remotely and securely as of last week, whilst continuing to provide advice and support to our clients in this challenging environment.

The group has a breadth of service lines with multiple sources of revenue and retains a strong counter-cyclical focus (accounting for 65% of our income); this broad range and depth of services provides the group with flexibility as the impact of COVID-19 on the economy and our markets develops. In these challenging times we will be working to ensure businesses and all stakeholders receive the appropriate advice to assist them in working through these difficult circumstances.

As we reported with our half year results issued in December 2019, the group is in a strong financial position including having significant headroom on its committed bank facilities. We will provide an update on Q4 trading following the group's year-end, 30 April 2020.

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)

David Tyrrell / Sunil Duggal / Angelos Vlatakis

Shore Capital                                                                                                                020 7408 4090

(Joint Broker)

Mark Percy / Anita Ghanekar

MHP Communications                                                                                                  07734 769359

Reg Hoare / Katie Hunt

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

www.begbies-traynorgroup.com/investor-relations.

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