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?

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.