BEGBIES TRAYNOR has reiterated that a slow insolvency market is continuing to take its toll on the firm.
A statement from the firm said: "Current year trading reflects the seasonality of the quieter summer months and continuing subdued market conditions, which saw a 12% decline in the number of insolvencies from the first calendar quarter of 2012 ... and an 8% decline on the comparative period of 2011.
"The group continues to focus on managing its cost base, which will incur exceptional restructuring costs of £1m in the period."
It also claimed net debt will stay around what was already announced in the final year report of £20.1m, which it claims is within banking facilities.
Begbies Traynor chairman Ric Traynor (pictured) previously said that the markets remain challenging and that he did not anticipate a substantial improvement in the near term, according to a final results statement for the year ended 30 April 2012.
For more share price information, visit the Share Price Centre.
You may also like
If budgeting is to have any value at all, it needs a radical overhaul. In today's dynamic marketplace, budgeting can no longer serve as a company's only management system; it must integrate with and support dedicated strategy management systems, process improvement systems, and the like. In this paper, Professor Peter Horvath and Dr Ralf Sauter present what's wrong with the current approach to budgeting and how to fix it.
In this white paper CCH provide checklists to help accountants and finance professionals both in practice and in business examine these issues and make plans. Also includes a case study of a large commercial organisation working through the first year of mandatory iXBRL filing.