Increase in insolvencies is boost for Begbies Traynor
Begbies Traynor is on course to deliver double-digit revenue growth as the insolvency firm continues to expect more challenges for UK businesses.
The Aim-listed restructuring adviser expected revenues to rise by 11 per cent to £122 million for the year ended April 30 and profit before tax was on course to increase by 16 per cent to £20.7 million.
The company said it had seen “good momentum” in new appointments to handle company insolvencies and that there had been a “significant increase in higher value cases”.
Restructuring firms have said they are likely to see greater activity this year as more companies try to negotiate debt terms at higher interest rates and navigate higher business costs.
Ric Traynor, executive chairman, said: “We performed strongly