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(Sharecast News) - Restructuring specialist Begbies Traynor said on Tuesday that it was feeling "confident" following a strong full-year trading performance and positive momentum going in to FY25.
Begbies Traynor said full-year revenues had grown 12% to 136.7m, with business recovery and advisory revenues up 7% and property advisory revenues advancing 26% for a record year.
Adjusted underlying earnings increased from 26.6m to 28.5m, while adjusted pre-tax profits grew 20.7m to 22.0m.
On the other hand, pre-tax profits slipped from 6.0m to 5.8m, while diluted earnings per share halved from 1.8p to 0.9p.
Begbies Traynor also said it had swung from a net cash position of 3.0m at the end of FY23 to a net debt position of 1.4m at the end of FY24, principally due to its completion of four acquisitions during the financial year.
Looking ahead, Begbies Traynor said it was confident of a further year of growth, in line with current market expectations.
As of 1000 BST, Begbies Traynor shares were down 1.81% at 97.60p.
Reporting by Iain Gilbert at Sharecast.com
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