Begbies Traynor Group Expects Strong Profit Growth in Fiscal 2024

Begbies Traynor Group, a prominent business recovery, financial advisory, and property services consultancy in the UK, projects a significant increase in pretax profit for fiscal 2024, in line with market expectations. The company aims to broaden its range of services to cater to a more diverse clientele.

According to a company-provided consensus forecast, Begbies Traynor Group anticipates achieving an adjusted pretax profit ranging between £21.9 million and £22.5 million ($27.1 million and $27.9 million) for the year ending April 30. This is an improvement from the £20.7 million adjusted pretax profit reported in fiscal 2023.

Begbies Traynor Group reports a positive start to fiscal 2024, with first-quarter performance aligned with expectations and encouraging activity levels across the organization. The company also expresses its commitment to investing in organic development.

During the first three months up until July 31, Begbies Traynor Group achieved double-digit growth in both revenue and adjusted profit. The company highlights that 80% of its income comes from counter-cyclical and defensive activities, positioning it well in the current challenging economic environment.