– Insolvencies top pre-pandemic levels
– Firm gaining market share
– Revenue and earnings ahead of forecasts
Business recovery and financial advisory firm Begbies Traynor (BEG:AIM) revealed its results for the year to the end of April would beat estimates as UK corporate insolvencies exceeded pre-pandemic levels.
The firms Red Flag Report for the fourth quarter of 2022 described a toxic combination of risks afflicting UK businesses, with smaller companies especially at risk due to repayments on Covid loans, higher energy costs and falling demand.
MARKET SHARE GAINS
The company said it expected revenue for the year just ended to have risen by 11% to 122 million and adjusted pre-tax profit to have risen by 16% to 20.7 million, both comfort…
Read the full article at: https://www.sharesmagazine.co.uk/news/shares/boom-time-for-begbies-traynor-as-insolvencies-continue-to-rise