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".

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

Recommended

Broker safety – your questions answered
Investment strategy

Broker safety – your questions answered

Cris Sholto Heaton answers more of your questions about the safety of stockbroker accounts
25 Mar 2020
How demographics affects stock valuations
Investment strategy

How demographics affects stock valuations

New research suggests that stock and bond valuations are driven by the age of the population – at least in the US.
24 Feb 2020
Do you own shares in Sirius Minerals? Here’s what you need to do now
Stocks and shares

Do you own shares in Sirius Minerals? Here’s what you need to do now

Mining giant Anglo American has proposed a cash takeover of Yorkshire-based minnow Sirius Minerals. Unhappy shareholders must decide whether to accept…
20 Feb 2020
Why investors should be “cautiously bullish” for 2020
Stockmarkets

Why investors should be “cautiously bullish” for 2020

Analysts have been out in force making rosy predictions for stockmarkets in 2020, but while there is certainly a case for optimism, investors should r…
17 Jan 2020

Most Popular

The rising dollar is proving bad news for most other assets – will it last?
Investment strategy

The rising dollar is proving bad news for most other assets – will it last?

Precious metals, stocks and pretty much every other asset has taken a tumble as the US dollar strengthens. Dominic Frisby looks at how long this trend…
23 Sep 2020
The electric-car bubble could get an awful lot bigger from here
Renewables

The electric-car bubble could get an awful lot bigger from here

The switch to electric cars is driving a huge investment bubble. But that’s not necessarily a bad thing, says John Stepek. Fortunes will be made and l…
24 Sep 2020
Why you should stuff your end-of-pandemic portfolio with Chinese stocks
China stockmarkets

Why you should stuff your end-of-pandemic portfolio with Chinese stocks

For an end-of-pandemic portfolio, you need assets that can cope with today’s volatility. And that, says Merryn Somerset Webb, means Chinese stocks.
14 Sep 2020