Begbies Traynor third quarter trading in line with expectations

by Rachael Singh

More from this author

28 Feb 2013

  • Comments
Ric Traynor Begbies Traynor

BEGBIES TRAYNOR claims its latest third quarter trading update is in line with expectations.

However, the firm said market conditions remain challenging with the decline in corporate insolvencies in the last year to 20,580 from 21,858.

The firm's performance was in line with the board's expectations and is consistent with the performance reported in the half year results in December 2012. It also said net debt was also within its banking facilities.

Ric Traynor, (pictured) 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."

At the end of last year the firm published its half-year results which showed that profit before tax had fallen to £2m from £3.4m for the six months to 31 October 2012. Revenues were also down to £26.1m from £29.4m compared to the 2011 half year results.

It also reduced its staff in the insolvency division 3.5% to 449 from 466 compared to the start of the last financial year.

Visitor comments

blog comments powered by Disqus

Add your comment

We won't publish your address

By submitting a comment you agree to abide by our Terms & Conditions

Your comment will be moderated before publication

  • Send


Financial Planner

The Ministry of Defence Surgeon General’s (SG) Finance Department, Lichfield, Staffordshire, Permanent, Full Time, £ £30,008




Get the latest financial news sent directly to your inbox

  • Best Practice
  • Business
  • Daily Newsletter
  • Essentials


Search for jobs
Click to search our database of all the latest accountancy roles

Create a profile
Click to set up your profile and let the best recruiters find you

Jobs by email
Sign up to receive regular updates with the latest roles suitable for you



Why budgeting fails: One management system is not enough

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.


iXBRL: Taking stock. Looking forward

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.