Begbies Traynor reports sustainable levels of profitability in Q3
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'.
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
Sign up for MoneyWeek's newsletters
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
-
Could investing in sugar protect you during a downturn?
Sugar has some defensive qualities during economic downturns, but is now the right time to invest in sugar?
By Dan McEvoy
-
Trump’s tariffs: how should the UK respond?
Every right-thinking person knows that free trade is a surer route to the wealth of nations than protectionism. So, what is Trump thinking?
By Stuart Watkins