Begbies posts strong year-ends
Begbies increases its profit margin to 22%, from 18%
Begbies Traynor has posted positive preliminary year-end figures, with a
profit before tax and amortisation of £7.3m.
Executive chairman Ric Traynor said that although the general insolvency
market had been ‘static’, economic indicators suggested that there would be more
struggling businesses in the near future.
Revisions of revenue recognition rules saw Begbies recognise more revenue
from work undertaken, resulting in additional historical tax charges of
£500,000, payable over three years.