Nice results today from Begbies Traynor Group plc, the UK's leading independent insolvency, corporate rescue and recovery specialist.

http://www.uk-wire.com/cgi-bin/articles/200501070700031148H.html

This ought to make money in both a boom and a recession!
Looks like they've lots of growth to come over the medium term.
I hold with a four year (or longer) view.
Anyone else have an interest?

Sorry, that's the clickable web link below.

http://www.uk-wire.com/cgi-bin/articles/200501070700031148H.html

Up yet another 11% today and on no news that I can find.

I was reading about this one at the weekend, though I can't remember where exactly. I'll have a rummage through the recycling bag and let you know....I thought it looked like an interesting prospect....kind of a debt free direct for companies......at least thats what sprang to mind.

Thanks Sandrew64 - Looking at the trades it did seem that a lot of buys came in before 8.30 which I guess is a sign of some weekend press coverage.

Sorry brianboru....thought it was in either the ft or the business but can't find it anywhere....not much help.

unique opportunity apparently - and I think I agree - good results with new LFL business up 35% and management sounding confident re full year outcome and expecting to pay a maiden dividend (which always goes down well). shame i missed the initial rise but have bought sub 70p for medium to long term as I think prospects are very good and hope to see 100p come next results if managent deliver as expected. quality of business suggests it could command a high multiple with time - a strong story for me - do others agree?

shares magazine commented - an impressive debut on the results - haven't seen any other coverage of this share - anyone know of any broker notes, forecasts etc.

...anyone know of any broker notes, forecasts etc....

I think Teather and Greenwood had a forecast forward pe of 16 for 2005 and 14 for 2006 but that will be guesswork I think. The next results should help clarify where they're headed. I like'm because of the business - it seems pretty recession proof!!

acquisition - earnings enhancing and more to come - shares up 3p so all is well - should see more of the same in the future.

I think they make about 20% profit pre tax on turnover - is that about right?
They ought to be able to boost income from this aquisition from 850K to at least 1M so it would seem they're paying a multiple of around 5 times future earnings?

Please feel free to disagree and correct these assumptions, I am no expert!!

Up another 8%+ today and I'm almost tempted to take a short term profit. I'm sure some will but over the medium term this ought to go further still.

Looks like 70p could be decent support on any move back.

Looks an interesting one for sure!
I have to say though...is the epic really BEG for an insolvancy
company?
LOL!!!!

With the rise today the Market Cap now exceeds 50 Million - a level at which institutions start to become interested. (Many ITs etc. don't touch companies below this level). The shares are pretty tightly held so it could get interesting!

And it is. Getting interesting that is!
Apparently tipped in Growth Share investor hence the rise today.

100p in our sights now - lets hope more acquisitions at the right price get a similar market response.

BEG is well paced in a fast growing sector - I think as the economy slows we will see plenty of good newsflow from this company.

Interim Results for the six months to 31 October 2005, will be released on 16 January 2006

http://moneyam.uk-wire.com/cgi-bin/articles/200607030700385149F.html

Excellent results.

The interim results are due on the 16th January.

Business is booming. Expect a rerating during the rest of the month.

I am currently in the Far East ( I am from the UK) and I overheard a conversation from a group of blokes in the piano bar or the Marco Polo Hotel in Cebu. I don't think they realised that I Speak Fluent Tagalog as my wife is Pinay. They were talking about investing in BEGBIES shares in the UK as they heard that a Magazine in the USA had featured this company in a recent article and were tipped to rise in value. I have taken what I heard seriously but just bought a small amount (1000 quid) to be on the safe side. Lets see if my eavesdropping pays off ! hahaha

with all the gllom & doom for 2008, surely this one looks interesting, anyone out there following this one, interims due end of Jan I believe ? Any thoughts would be welcome, is it best to wait for the statement before plunging, a share tip also for 2008

Profit warning issued on 07/12/07 results due 30/01/08.

http://www.yorkshirepost.co.uk/businessnews/Rise-in-firms-on-critical.4044617.jp

Rise in firms on critical list

02 May 2008

By Lizzie Murphy

THE number of companies facing critical problems in Yorkshire and the North East has risen by almost 300 per cent but it is still the least affected region in the UK, according to a new report.

The credit crunch is resulting in nearly four times as many North East companies experiencing serious actions and judgements in the first quarter of 2008 compared to the same period last year.

The worst affected sectors are construction, property and retail, according to business recovery experts Begbies Traynor.

According to its latest report there were 328 companies with critical problems in the first quarter of 2008 compared to 85 during the same period last year.

Nationally 3,309 companies are facing critical problems with a further 140,000 firms experiencing significant difficulties, an increase of almost 20,000 on the same time last year.

The worst affected region is the South East, with nearly five times the number of critical problems than in the first quarter of 2007.

Approximately 15 per cent of the firms experiencing the most difficult of circumstances will enter into a formal insolvency procedure within 12 months, the report predicted.

Ric Traynor, executive chairman of Begbies Traynor Group, said: "Although the picture is far from rosy anywhere in the country, the North East has shown the most resilience in the face of the credit crunch.

"The combination of adverse economic conditions and tightening credit availability has clearly had a major impact on companies in the first quarter of 2008 and, in particular, London and the South East has been hit the hardest.

"This trend is expected to continue and will undoubtedly lead to more companies being pushed into insolvency over the coming months."

Mr Traynor added: "Clearly, the credit crunch is beginning to bite and the decreasing availability of credit is being felt by the most fragile companies seeking to extend credit lines and/or refinance. The pressure is exacerbated by lenders having to tighten criteria still further and alter terms as they struggle to maintain margins.

"There appear to be notable increases in the numbers of companies facing critical problems across the board, albeit the North East has fared relatively well. However, with increases in critical problems at almost three hundred per cent, the outlook still looks challenging."

The quarterly Begbies Traynor Red Flag A!ert statistics monitor adverse actions and other corporate distress signals, such as the issue of county court judgments.

A good sector to be in I reckon, of three that I considered,ie BEG; VTS and TNO I chose TNO which has started to move in the last week or so. I see directors have been buying VTS and since I looked at the sector a few weeks ago BEG have moved from 107p to 118p ish. Good luck all.
2517

Bought in yesterday
http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2008/05/03/cninsolv103.xml

http://www.thisisexeter.co.uk/displayNode.jsp?nodeId=136993&command=displayContent&sourceNode=231418&home=yes&more_nodeId1=137002&contentPK=20559665


WE MUST SUFFER 'SOME PAIN' WARNS EXPERT

BY JOANNE COCHRANE

11:40 - 07 May 2008



Financial experts are warning that more firms could go under in the coming months as the credit crunch really starts to take effect.

A leading accountant from Francis Clark Accountants has said the local economy should expect to suffer "some pain".

Stephen Hobson was speaking at a special seminar hosted by Foot Anstey Solicitors yesterday aimed at telling delegates how to combat the economic downturn.

Mr Hobson said: "Down here, it's not affecting us too much. We tend not to get the big ups and downs of London.

"However, the lending environment has tightened quite dramatically in our experience. The level of lending is low.

"There's a tightening in the corporate lending market and much lower availability of credit.

"It's time to look at cash flow and make sure money is coming in. Look at suppliers. People don't think of them as being at risk but if a key supplier goes under, you find yourself in significant difficulties.

"There are also cost pressures - costs are going up. Transport is a huge issue down here.

"In the retail market, there have been some quite noticeable failures since Christmas. We have not seen it quite that bad but discretionary spending is under pressure.

"I'm optimistic for the quality hotel market in this part of the world.

"The exchange rate will help. Lots of Europeans might be attracted to come and stay.

"I think it's bad news for small hotels. The real bad news is for pubs.

"There are some positive figures coming out, though - the US is not in recession. Employment statistics are holding up well, both in the States and over here. Yes, there's going to be some pain but nevertheless confidence will begin to build up again over the next few months."

Meanwhile, new figures from business recovery firm Begbies Traynor, which has an office in Exeter, reveal that South West companies are experiencing a 334 per cent increase in "critical problems" in the first quarter of 2008 compared to the same period in 2007.

However, several other regions suffered more, as large increases were seen across the country.

In the South West, the worst affected sectors were construction, property and retail.

Ric Traynor, executive chairman of the Begbies Traynor Group, said: "The combination of adverse economic conditions and tightening credit availability has had a major impact on companies in the first quarter of 2008 and, in particular, London and the South East has been hit hardest.

"The South West was relatively resilient, however with increases in critical problems at almost 350 per cent, the outlook certainly looks challenging.

"This trend is expected to continue and will undoubtedly lead to more companies being pushed into insolvency over the coming months."

Debbie Russell, who owns Chikara clothing shop on Exeter Quay, was hoping to relocate to new premises in West Street in the next few weeks but a last minute funding hitch with her bank meant this is no longer possible.

Mrs Russell said: "We had a mortgage offer withdrawn just prior to our completing on West Street.

"The mortgage company couldn't get funds for any new business. We made strenuous efforts, along with our commercial broker, but rates and higher deposits made it impossible.

"We had to withdraw our notice from the Quay and from the purchase of West Street but can only stay here until the end of September as, at long last, the development down there is going to start in the autumn.

"We always knew that our time there would be limited, so this has not come as a surprise and is the reason why we were looking for new premises. We are now actively seeking premises to relocate to."

On the move this morning.

LONDON (Thomson Financial) - Begbies Traynor Group Plc. said it expects its results for the year ended April 30 to be in line with market expectations and that it has started the current year with a replenished case load in business insolvency.

The specialist professional services company said its core activity of business insolvency, which accounts for about 75 percent of turnover, has had a significant recovery in work flow in the second half.

The company said it still plans to scale back its personal insolvency operations and that it expects the current case book will be sold or run off over time.

Begbies Traynor also said it plans to dispose of a non-core unit.

The company said it expects to announce its full-year results on July 9.

TFN.newsdesk@thomson.com

rda/rfw

http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2008/05/30/cxmktrep130.xml



...........Begbies Traynor rose 9 to 139p after Brewin Dolphin published a bullish buy note on the company following Tuesday's year-end trading statement. It noted the professional services organisation generates about 80pc of its revenue from business insolvency and recovery.

Brewin Dolphin initiated coverage of the shares with a 160p price target and a buy recommendation. aim focus................

Yes BEG are doing well as are VTS, my choice TNO (see post 24) is somewhat lagging behind, nothing new there then. On a more serious note, this is a sector to have some exposure. aimo of course.
2517

Broken through 160 resistance this morning

Going well again

Going very very well now :)

Results tomorrow so sold majority of holding today buy on rumour and sell fact etc......

I'm interested that you sold, as I thought of buying today in anticipation of good figures! Plus I think this is probably a stock which will do well over the next year.

Harry they have risen 60 p in one of the most dramatic market corrections of this decade, which is stellar but I think the numbers will take time to accumulate so I'm taking profits and anticipating results and a drop for a lower entry around 140 though who knows... a profit is a profit especially on the long side in this market

140p is roughly the 50 DMA level. 127p the 200 DMA.
Good to see someone is making a profit in todays climate!

Well, you were right about 'selling on fact'. Profits down from last year on increased turnover!
"LONDON (Thomson Financial) - Begbies Traynor Group Plc. reported a fall in full-year pretax profit and said activity levels overall at the start of the current financial year have been well ahead of the same period last year.

The business solutions company's pretax profit for the year to April 30 fell to 5.7 million pounds against 8.5 million a year ago even as revenues rose to 48.1 million pounds versus 41.9 million last year.

The group also reported a 2.4 million pound impairment charge relating to discontinued operations.

Begbies Traynor said the fully diluted earnings per share from continuing operations is 4.7 pence compared with 7.3 pence the previous year.

'We start the new financial year with an enhanced insolvency platform, a replenished insolvency case load and market indicators which continue to predict stronger demand in this, our counter-cyclical core business. We therefore look forward to a sustained period of improved new work flow and insolvency returns,' Executive Chairman Ric Traynor said.

The group recommended maintaining the final dividend for the year at 1.5 pence, keeping the total dividend at 2.5 pence per share."

http://www.begbies-traynor.com/companies_with_%22critical_problems%22_increase_almost_700_per_cent_/404

Companies With "Critical Problems" Increase Almost 700 Per Cent


Begbies Traynors Red Flag A!ert Statistics signal increasing difficulties for UK companies

Worsening economic climate results in seven times as many companies experiencing Critical Problems in Q2 2008 compared to Q2 2007

Over 4,200 companies experiencing critical problems in Q2 2008

Construction, IT and retail sectors suffering the most

Credit Crunch deepens with nearly 30 per cent increase in critical problems compared to Q1


Begbies Traynor, the UKs leading independent business rescue, recovery and restructuring specialist, today reveals that the number of UK companies experiencing Critical Problems in the second quarter of 2008 has increased substantially over the same period in 2007. Staggeringly, 4,258 companies faced critical problems (those with CCJs totalling over 5,000 or Winding-Up Petition related actions) in the second quarter of 2008 compared with 542 as in the same period last year, an overall increase of 685 per cent.

The research also shows that conditions are getting more difficult as the year progresses, with an increase in the number of companies facing critical problems of nearly 30 per cent (28.68 per cent) in Q2 2008 compared to Q1 2008.

Ric Traynor, Executive Chairman of Begbies Traynor Group, commented, The last set of Red Flag A!ert Statistics showed the effects of the credit crunch were just beginning to be felt by UK businesses. With credit conditions still tightening, these new figures demonstrate that the ................................

Completely sold out today, PE over 41 now. I expect a pull back though may be I'll be a fool for not running profits. Jam tomorrow so hope to buy back when it's nearer 150

Uncharted territory now. Not been over 180p in the last 2 years.
Probably wise to take profits, but back down to 150p? Optimistic, imo.

I know what your saying but if hedge funds decide to pump and dump things can move very swiftly, if they can do such things to such a small company

Nearly at that 200p level now...

Can't make my mind up whether this has got further to go or not.
200p level seems to be difficult to break through & sp is way ahead of the 200 DMA. Possibly went too far, too fast.

Quite a dramatic pullback today, still looking for 150

150 is back to 2007 levels. Why there in particular?
This stock is now tipped to benefit from the recession, which would make 2007 a bad indicator, imo.

Just because it looks like the strongest level of support. Price has dropped through 50 dma though it could be a false breakdown. Might be worth buying a few now and then a few more if it hits 150ish

Begbies Traynor chief exec places shares
Fri 12 Sep 2008

LONDON (SHARECAST) - Andrew Dick, chief executive at the insolvency specialist Begbies Traynor placed nearly 2m worth of shares in the company today, reducing his holding to 7.25% from 9.5%.

The company said his placing of just over 1.2m shares at 165p each will not only help to satisfy demand, but will improve further the level of free float and liquidity in the shares of the group.

Begbies Traynor as a whole is placing around 7.9m shares at the same price. It says the funds will be used to help fund expansion at its business insolvency practice, which should see strong growth as the economy slows down.

We are delighted with the level of demand for Begbies Traynor's shares from a variety of blue chip institutions, both existing and new investors, and very much welcome our new shareholders, executive chairman Ric Traynor said.

These new funds, together with existing facilities, will provide adequate resources for Begbies Traynor to capitalise fully upon an anticipated sustained period of improved new work flow in our core business insolvency practice."

Considering the decline in the markets, this has held up quite well.
Worth watching, imo.
Down from previous high of 200p to 160p.

With so many co's reportedly going bust BEG should be in their element, as should VTS & TNO.
2517

IC suggested them just last week . . . but look at the PE!
This stock has risen on the back of "distress" so I suspect there are other companies that do exactly the same work - therefore without shareholders they should be cheaper and more likely to grow.
I think HARRYCAT(10Oct08) gives the right tone...caution.

LONDON, Dec 5 (Reuters) - Begbies Traynor Group Plc:
* "Six-month to end-Oct. insolvency activity levels and margins are substantially ahead of the same period last year.
* The division has accounted for approximately 80 pct of the group`s overall revenues in the first half.
* Corporate finance division operating losses in the first half at 1.0 million
pounds, significantly worse than earlier expectations.
* Group's pre-exceptional continuing activities will perform in line with
expectations for the year as whole."

Quite good news and sp gets hammered, true to say it's slipped back over recent months anyway. The sp was around this level at the time I bought TNO and I missed the good rise to around 200p ish, pe still looks high compared to TNO.
2517

As you say the trading update was quite good news, in this market it needs words like exceed expectations to move the sp. But the fall looks overdone.

http://sharecast.com/cgi-bin/sharecast/story.cgi?story_id=2565586
Considering purchase but the market hates debt!

Just picked 10,000 of these up as a bit of a punt,IC reckons they are a good buy on current P/E. Looking for 10% in the next few months. Is anyone else invested here?

This share ought to be motoring on all the gloom and doom around, instead it's touching lows not seen for at least 5 years.
2517

definitely time to dig this one out for the coming year, but with a bleak looking chart, perhaps just to watch for the moment .... buy on a break upwards through (red) 25 dma?

a little reminder to everyone .... surely this must be a good year for these insolvency specialists and historically, i see sp has been as high as 200

Surely last year should have been a good one for these guys also? Good chart to trade, but the fundamentals don't seem to live up to expectations.

they seem quite difficult to trade too, but have left a buy order at the price i'm prepared to pay

Found this audio interview whilst doing some research on Begbies Traynor Group, just wanted to share it with you guys, it an interesting listen:

http://www.brrmedia.co.uk/event/99090/ric-traynor-executive-chairman--nick-tatlor-group-finance-director

StockMarketWire.com
Begbies Traynor Group, an ndependent business recovery practice, has reported that a reduction in market activity has led to lower year on year revenue which has been partially mitigated by the contributions from recent acquisitions.

It said the first half, which includes the quieter summer months, is a relatively slow trading period, with the bias of activity expected towards the second half. This expectation remains unchanged following the first four months of the year, in line with the Group's typical seasonal trading patterns.

Executive chairman, Ric Traynor, will tell shareholders at today's AGM: "Market conditions remain challenging, with the Government insolvency statistics worse than expected. An 8% decline was reported in the number of corporate insolvency appointments to 8,948 in the first half of calendar year 2014 compared to 9,727 in the same period of 2013." He will also say: "The financial outturn for the full year will be heavily dependent on trading in our traditionally busier second half. However insolvency market conditions remain challenging, which may impact on performance for the full year.

"With the benefit of a strong financial position and committed bank facilities, we are well placed to continue to take advantage of opportunities to enhance the business through both organic investments and selective acquisitions."

StockMarketWire.com
Business recovery practice Begbies Traynor Group posts a fall in first half pre-tax profits after a 'challenging trading period for our profession'. Revenues fell to £20.8m, from £21.4m, and adjusted pretax profit fell to £1.9m, from £2.3m.

The group said the results were in line with market forecasts.

Executive chairman Ric Traynor said: "Despite a challenging trading period for our profession, with reductions in national insolvency volumes to the lowest level since 2007, we have continued to trade profitably, with results in line with market expectations.

"We have mitigated the full impact of market conditions through acquisitions completed in the current and prior year and continued cost discipline, and we have retained our market-leading position in terms of number of insolvency appointments.

"We anticipate some improvement in trading levels in the second half of the financial year, over the traditionally busier winter months as we experienced in the previous financial year. The last four months of the financial year will also benefit from the post-acquisition trading profits from the Eddisons acquisition announced today, which is expected to be earnings enhancing in the current financial year.

"Overall, the group remains well placed to take advantage of opportunities to develop and enhance the business, both organically and through selective acquisitions."

Separately, the group announced that it has conditionally agreed to acquire Eddisons Commercial (Holdings), a leading UK-based national firm of chartered surveyors with a specialism in the valuation and disposal of property and business assets.

Under the terms of the Acquisition, an initial £5 million consideration in cash is payable on completion funded through a Vendor Placing and further potential payments, in cash or equity, of up to £3.5 million may become payable contingent on financial performance, namely:

· £1.5 million cash payable on account over four years, with historic payments subject to claw back if the business subsequently underperforms;

· £1.5 million cash or equity payable after four years, based on Eddisons' cumulative performance over the four year review period;

· £0.5 million cash or equity payable between five and eight years post Acquisition.

The group also announced an equity fundraising to raise approximately £5.3 million (before costs)

- £5 million via vendor placing to satisfy initial consideration

- £0.3 million via cash placing for transaction costs

StockMarketWire.com
Begbies Traynor Group plc ("the Group"), the business recovery and property services consultancy, has reported that the number of UK corporate insolvencies in the first quarter of 2015 was 4,014, which represents an 11.3% reduction compared to the same period of last year and is the lowest level of quarterly appointments since the final three months of 2007.

Overall UK corporate insolvency appointments for the year to 31 March 2015 (the period which most closely matches the Group's financial year) were 16,380 (2014: 18,994), representing a 14% year on year reduction.

The company says has maintained its market-leading position by number of appointments and has continued to strengthen its position through the strategy of selected bolt-on insolvency acquisitions. However, this has only partially mitigated the impact of a declining market. As a result, the Board now anticipates that the outturn for the full year will be below market expectations.

The Board has continually looked to manage the Group's cost base to reflect lower levels of overall market activity, the benefits of which have been realised incrementally during the second half of this financial year and will be fully realised in future periods.

Ric Traynor, Executive Chairman of Begbies Traynor Group plc, said: "Whilst it is disappointing to have seen a further decline in the overall insolvency market in the UK, we have maintained our market-leading position and have taken action to align our cost base to current activity levels.

"We have made good progress integrating Eddisons into the Group and we are already starting to realise the synergies that the team's expertise brings to the Group's core insolvency practice."

StockMarketWire.com
Brexit could spell disaster for struggling UK exporters despite a boost from a weak pound, insolvency firm Begbies Traynor warns.

Its latest Red Flag Alert research, which monitors the financial health of UK companies, reveals that 21,061 manufacturers, many of which rely heavily on exporting, ended the first quarter in a state of 'significant' financial distress - 20% higher than the equivalent period last year (Q1 2015: 17,545) - despite the weak pound making UK exports more attractive to international customers.

Of the UK manufacturing sectors covered by the research, the number of food & beverages production companies experiencing 'significant' distress rose the fastest, at 29%, followed by a 21% increase in the broader manufacturing sector and a 17% increase in the automotive sector.

Meanwhile the Red Flag research shows that the UK's financial services sector, which has significant exposure to the European financial markets and investment community, is in a substantially weaker financial position compared to the same stage last year.

The number of UK financial services businesses suffering 'significant' financial distress is up nearly a quarter (23%) at the end of Q1 2016 to 5,391 companies (Q1 2015: 4,383), ahead of a potential Brexit to which the sector has been much opposed.

With growing uncertainty surrounding the outcome of the referendum vote in June, combined with concerns around what any future trade agreements with Europe will look like in the event of a Brexit, difficult questions have been raised over how a Brexit vote could impact the UK's already struggling exporters and financial services industry.

Begbies Traynor partner Julie Palmer said: "Our data shows that the UK's exporting industries are already under significant financial pressure and can ill afford any potential risk to the 50 percent of British exports that go into the EU.

"The Red Flag manufacturing figures show that the threat of uncertainty surrounding the referendum has already put the brakes on this segment of the economy, which should be accelerating with the benefit of recent Sterling weakness, with many UK firms adopting a 'wait and see' approach to any change to the UK's relationship with the EU.

"Considering the current struggles that the UK manufacturing industries are facing, as seen most starkly in the steel industry recently, and the significant potential impact of a Brexit vote, it is crucial that firms make contingency plans for either outcome of the Referendum to avoid further deterioration in their financial health." Executive chairman Ric Traynor added: "Given these figures, the impending threat of a potential Brexit raises difficult questions over how the UK's manufacturing sector will cope with changes in regulation and protracted periods of uncertainty associated with negotiating new trade agreements, and how the UK's financial services firms could withstand any loss of passporting rights, foreign investment or influence over EU regulation.

"The current weakness in the UK's manufacturing industries and financial services sector doesn't bode well for the UK's negotiating power with Europe and indeed other potential trade partners, should Brexit become a reality. If we do leave, the process of agreeing new trade agreements is likely to be a long and drawn out process, so businesses should, in that situation, prepare for the long haul." Story provided by StockMarketWire.com

These companies that are in a state of distress has happened during a period whilst in the EU, you could argue that many of these companies are zombie companies and have only been kept above water by the vast swathes of QE and record low interest rates.
2517

Didn't German factory orders dive last month ,YES THEY DID .

Quite right VICTIM, under normal circumstances many of the companies that BEG are referring to would have gone to the wall and new fitter companies would replace them.
2517

P/W brexit, i would like confermation, if S/P to suffer, company statement. BB

StockMarketWire.com
Business recovery and property services consultancy Begbies Traynor Group posts adjusted pre-tax profits of £2.5m for the six months to the end of October - unchanged from last time.

Revenues were £24.5m (2015: £25.5m) and pre-tax profit of £0.5m was down from £0.6m.

The interim dividend is unchanged at 0.6p per share.

Executive chairman Ric Traynor said: "The Group has delivered another solid financial performance in the period, with results in line with expectations. "This performance reflects the benefit of our diversification into property services, which we anticipate will contribute 30% of the group's revenue and profit for the full financial year. This strategic development has broadened our income streams, so that we are now operating as two complementary operating divisions, each with good market positions and high levels of profitability. "For the year as a whole, we anticipate growth in earnings, in line with expectations, with the benefits of our investment in property services complementing our market-leading, profitable and cash generative insolvency business. We will continue to look for opportunities to develop and enhance the group, both organically and through selective acquisitions. We will provide an update on third quarter trading in early March 2017."

StockMarketWire.com
More than 275,000 companies were showing signs of 'significant' financial distress at the close of 2016, according to new research by Begbies Traynor.

The independent business recovery practice said this represented the 13th consecutive quarter that corporate stress had risen on a year on year basis.

Begbies Traynor's latest Red Flag Alert research showed that 276,518 businesses were experiencing 'significant' financial distress at the end of 2016 - 3% up on the corresponding period in 2015.

On an annualised basis, the last time that 'significant' distress fell year on year was in Q3 2013.

Of the companies experiencing financial distress during Q4 2016, 91% (254,857) were SMEs.

Nearly a quarter (23%) of the country's struggling businesses were in London, where 64,764 companies finished the year in a state of 'significant' financial distress - an increase of 5% on Q4 2015.

Begbies Traynor partner Julie Palmer said: "With the World Bank revising down its growth forecasts for the UK, alongside reports that the UK's trade deficit widened to a worse-than-expected £12.2bn in November, our data shows that levels of financial distress continue to rise across the country, most of all within the UK's important SME community, which is widely regarded as the lifeblood of the economy.

"The scale of SME distress at the end of 2016 just goes to highlight the fragility of UK micro businesses, many of which are underfunded, lack management experience or are flawed in concept.

"Although record numbers of new start-ups continue to join the economy each year, a large proportion don't stay in business for long, with growing numbers of aspiring entrepreneurs returning to more established businesses as soon as the opportunity arises."

Executive chairman Ric Traynor said: "Despite finishing the year in a state of heightened financial stress, it is too early to say that this is reflective of an underlying problem that is likely to continue or negatively impact 2017, as numerous macro indicators suggest that the New Year has got off to a reasonable start.

"EU exit negotiations and US trade policy could be major factors affecting business this year either for better or worse whilst rising inflation and fluctuating exchange rates are likely to have a negative impact.

"Either way 2017 could well be a defining year for UK business."

StockMarketWire.com
Begbies Traynor has seen an improvement in activity levels in its insolvency business in the third quarter and its expectations for the year as a whole remain unchanged.

The group said the improvement in activity levels in the insolvency business were anticipated at the time of the half year results which it reported in December.

An update said: "This leaves us well placed for a strong last quarter albeit our work in progress in both the insolvency and property services businesses includes a number of engagements with fees contingent upon completion prior to the year end.

"The insolvency market has continued to show signs of stability, albeit at historically lower levels of activity, with an estimated 14,706 company insolvencies in England & Wales for the year ended 31 December 2016 compared to 14,657 in 2015."

Executive chairman Ric Traynor said: "Overall, we are encouraged to see some market stability and the increased activity levels typical of the busier winter months for insolvency, complemented by the benefit of our investment in property services.

"We continue to look for opportunities to develop the Group both organically and through selective acquisitions."

StockMarketWire.com
Britain's vital supply chain firms are starting to feel the pinch, with more companies showing increased signs of stress, according to new research from insolvency firm, Begbies Traynor.

Its latest Red Flag Alert showed that in the first quarter levels of 'Significant' financial distress within key sectors of the UK supply chain had risen by 26% on average over the past year following increased cost pressures from rising inflation in both fuel and food prices.

It said this followed the news that UK inflation rose to 2.3% in March, its highest level since September 2013, with transport costs being the biggest contributor, increasing 6.6% over the past 12 months.

Of all the sectors covered by the research, Industrial Transportation & Logistics businesses experienced the largest increase in 'Significant' distress, up 46% year-on-year (Q1 2017: 7,539 companies), with a 16% increase in the Wholesale sector (Q1 2017: 7,706 companies) and a 15% increase in the Food & Beverage Manufacturing sector (Q1 2017: 6,405 companies).

It said: "Worryingly, these negative findings are yet to reflect the recent increase to the National Living Wage that came into effect on 1 April 2017, which is likely to add even more pressure to the margins of these key sectors in the UK supply chain, which have a relatively high reliance on lower paid and temporary workers."

Begbies Traynor partner Julie Palmer said: "Levels of financial distress have increased significantly over the past year, and nowhere more so than in the Transportation and Logistics sector, which continues to be severely hit by ongoing fuel price inflation.

"Given the scale of the increases in distress during Q1, it would appear that food suppliers, logistics firms and wholesalers are yet to fully pass on these rising costs to their customers.

"But it is only a matter of time before we start to see this coming through, especially given the added margin pressures associated with the new National Living Wage.

"Once those costs ultimately feed through to consumers, we'd expect further pressure on sectors exposed to discretionary spending such as retail, bars and restaurants, travel and leisure."

Executive chairman Ric Traynor added: "These figures show that rising energy and food prices, combined with the devaluation of sterling, have undoubtedly put a strain on the much of the UK's supply chain.

"As we wait to see what a future UK trade agreement with Europe might look like, these suppliers face continued uncertainty, not just in terms of their European distribution channels but also with regards to staffing, given their higher reliance on European migrant workers.

"It is clear that UK suppliers, wholesalers and manufacturers can't afford to adopt a 'wait and see' approach - they'll need to rapidly invest to improve their efficiency or renegotiate prices with customers to avoid the risk of falling into more severe financial distress in the coming months."

StockMarketWire.com
New research from Begbies Traynor shows that 329,834 UK companies were experiencing 'significant' financial distress at the end of Q2 2017, a 25% increase from Q2 2016 (263,517 companies)/

The group said this was the largest annual increase since Q2 2014 and was the largest number of corporates experiencing significant distress in at least 5 years. The Red Flag Alert research for Q2 2017, which monitors the financial health of UK companies, showed that SMEs made up the majority of this increase, with 'significant' distress rising 26% to 308,423 businesses, while large companies saw distress rise by just 12% year-on-year to 21,411 businesses at the end of Q2 2017.

It said that among the sectors facing the largest increases in 'significant' financial distress, property and construction saw substantial rises of 32% and 22% respectively, with 28,259 real estate businesses (Q2 2016: 21,373) and 40,495 construction companies (Q2 2016: 33,222) finishing the period in a state of 'significant' financial distress, providing further evidence of a slowdown in the UK housing and construction markets.

Meanwhile, the research showed that the UK sectors most reliant on consumer spending had been hit particularly hard during the second quarter, with volumes of financial distress increasing year-on-year by 22% among leisure businesses (Q2 2017: 8,206 vs. Q2 2016: 6,700), 17% for general retailers (Q2 2017: 25,598 vs. Q2 2016: 21,939), 17% for automotive companies (Q2 2017: 10,741 vs. Q2 2016: 9,161) and 16% among bars & restaurants (Q2 2017: 13,635 vs. Q2 2016: 11,793).

Executive chairman Ric Traynor said: "Our Red Flag research shows that a recent loss of momentum in the economy is putting increased financial pressure on UK businesses, with SMEs bearing the brunt of this rising distress, as businesses contend with uncertainty over Brexit negotiations and an inconclusive election result, alongside rising costs.

"These significant increases in financial distress also point to a slowdown in business investment at a time when the overall growth rate of the UK economy remains stubbornly sluggish."

On the way back up to £2.00!!!!!