Begbies Traynor – with more companies going bust or needing restructuring 2021 will be a good year
On Tuesday 8 December Begbies Traynor (LON:BEG) will be declaring its interim results for the six months to end October.
The business recovery, financial advisory and property services consultancy group enjoyed a strong first half year, we were told in its 18 November Trading Update.
Revenue was up 10% and adjusted pre-tax profits were 25% better. Furthermore, it has strengthened its financial position switching from £2.8m net debt in April to £0.7m of net cash six months later.
The company’s management is confident in expecting another year of growth, probably above market expectations of £9.8m in profits to end April 2021.
The group’s shares, currently 91.5p, look very capable of edging back up to their May peak of 117p, so a good statement will help push them back over the 100p level quite quickly.
(Profile 26.11.19 @ 85p set a Target Price of 110p*)
(Profile 21.04.20 @ 93p set a Target Price of 110p*)