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

Share tips of the week – 15 October
Share tips

Share tips of the week – 15 October

MoneyWeek’s comprehensive guide to the best of this week’s share tips from the rest of the UK's financial pages.
15 Oct 2021
Trading: stash the family cash in this cheap wealth management firm
Trading

Trading: stash the family cash in this cheap wealth management firm

Wealth management is a growth market. Rathbone Brothers should be a prime beneficiary – and looks cheap. Matthew Partridge explains the best way to pl…
12 Oct 2021
What the best-performing investment trusts of the past 20 years can teach us
Investment trusts

What the best-performing investment trusts of the past 20 years can teach us

Forty-two trusts have risen more than tenfold over the last two decades. What made the winners stand out? And how can we identify future outperformers…
12 Oct 2021
Activision Blizzard: a cheap play on videogames
Share tips

Activision Blizzard: a cheap play on videogames

Videogame maker Activision Blizzard has been in the news for the wrong reasons lately. But it has a bright future, says Stephen Connolly.
11 Oct 2021

Most Popular

Inflation is still one of the biggest threats to your personal finances
Investment strategy

Inflation is still one of the biggest threats to your personal finances

Central bankers and economists insist inflation will be gone by next year. We're not so sure, says Merryn Somerset Webb. So if you haven’t started to …
1 Oct 2021
How to invest in SMRs – the future of green energy
Energy

How to invest in SMRs – the future of green energy

The UK’s electricity supply needs to be more robust for days when the wind doesn’t blow. We need nuclear power, says Dominic Frisby. And the future of…
6 Oct 2021
How to invest as we move to a hydrogen economy
Energy

How to invest as we move to a hydrogen economy

The government has started to roll out its plans for switching us over from fossil fuels to hydrogen and renewable energy. Should investors buy in? St…
8 Oct 2021