Professional services giant Begbies Traynor has said its full-year results are set to be “comfortably ahead” of market expectations, with revenue and pre-tax profits both surging.
The Manchester-headquartered group is expected to report a revenue of £83.7m for the 12 months to April 30, 2021, up from the £70.5m it achieved in its prior year.
The listed company’s adjusted pre-tax profits are also set to rise from £9.2m to £11.5m.
In a statement issued to the London Stock Exchange, the group hailed its “strong trading performance” in its final quarter across both operating divisions.
The firm has more than 100 offices across the UK.
Executive chairman Ric Traynor said: “We expect our results for the full year will be comfortably ahead of market expectations.
“This will represent another year of growth in revenue and profits, whilst investing in the group to expand the range and depth of our service lines.
“This strong financial performance is despite the impact of a suppressed insolvency market and the lockdown at the start of the financial year.
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“Our transactional businesses have bounced back strongly, our organic investments have made good progress and we continue to believe that the number of insolvencies will increase as the government support measures are removed.
“The four acquisitions we have completed since the beginning of 2021 have significantly increased the scale of the group and its capabilities, enhancing the support and advice we provide to UK businesses, and leaving us well-placed to service the expected increase in the number of insolvencies.
“With the benefit of these recent acquisitions and our organic growth opportunities, the group is well positioned to deliver the anticipated material growth in earnings in the new financial year.”