Begbies sets £100m turnover goal
Begbies Traynor guns for an ambitious £100m revenue target after recording a 58% rise in halfyear turnover
The corporate rescue firm raked in £22m compared to just under £14m for the
corresponding period in 2005.
As it released its interim results, Begbies said: ‘We shall pursue a
combination of organic and acquisitive growth in our current professional
service offerings and in extended compatible new areas of professional activity.
With a view to delivering group activity in excess of £100m by 2010, whilst
retaining operating margins at 20% or better.’
AIM-listed Begbies said it was firmly on target to turnover £50m by the last
quarter of calendar 2007. The firm cited the success of its programme of
acquisitions and lateral hiring of experienced professional teams to fuel
growth, as instrumental in the board’s decision to extend its strategic plan
beyond the original 2007 goals.
Begbies added that it had already earmarked the areas that it was looking to
exploit and its board was actively targeting opportunities within them.