Revenue jumped past the £80m mark at professional services firm Begbies Traynor during its latest financial year after a string of acquisitions and an improvement in trading.
The Manchester-based listed group has reported a revenue of £83.8m for the 12 months to April 30, 2021, up from the £70.5m it achieved in the prior year.
The group's pre-tax profits dipped from £2.8m to £1.9m over the same period but grew from £9.2m to £11.5m on an adjusted basis.
In a statement issued to the London Stock Exchange, Begbies said the results are ahead of its original expectations.
Executive chairman Ric Traynor said: "I am pleased to report on a year of real progress for the group, with results ahead of our original expectations due to improved trading and acquisitions.
"We have delivered a strong financial performance with another year of growth in revenue and adjusted profits, despite the impact of the Covid-19 pandemic, whilst making substantial investments which have significantly increased the scale of the group and its capabilities.
"Over the last four financial years, we have delivered compound annual growth in adjusted earnings per share of 20%, including 10% organic growth.
"Over the same period we have moved from net debt of £10.3m to net cash of £3m at the year end, whilst making value-enhancing acquisitions and delivering 8% compound growth per annum in dividend per share.
"Overall, the group is in a very strong position as we start our new financial year. The four acquisitions we have completed since the beginning of 2021 have significantly increased the scale of the group and its capabilities, enhancing the support and advice we provide to UK businesses.
"With the benefit of our recent acquisitions, our organic growth and future acquisition opportunities, we are well positioned to deliver the anticipated material growth in earnings in the new financial year."
