Shares in AIM-listed Begbies Traynor Group rose after the group reported that profits from continuing expectations for the quarter ending January 31st were 'in line with the board's expectations'.
The company, which provides business recovery practise services, reported that group profit from continuing operations stated before amortisation and exceptional items for the period has been consistent with the performance reported in the half-year results in December 2012.
Net debt at the end of the third quarter was also in line with the board's expectations and Begbies Traynor said it "remains comfortably within the group's banking facilities".
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Ric Traynor, Executive Chairman of Begbies Traynor, said: "The group has continued to report good, sustainable levels of profitability whilst maintaining a sound financial position. Overall the insolvency market remains challenging, despite the impression given by a number of high profile retail administrations since Christmas."
Begbie Traynor's share price was up 7.04% to 38p at 13:41 on Thursday.
MF
-
Christmas at Chatsworth: review of The Cavendish Hotel at BaslowMoneyWeek Travel Matthew Partridge gets into the festive spirit at The Cavendish Hotel at Baslow and the Christmas market at Chatsworth
-
Tycoon Truong My Lan on death row over world’s biggest bank fraudProperty tycoon Truong My Lan has been found guilty of a corruption scandal that dwarfs Malaysia’s 1MDB fraud and Sam Bankman-Fried’s crypto scam
