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?

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.
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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.
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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.
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