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Insolvency specialist expects annual profits to beat expectations

Business adviser Begbies Traynor Group has announced a strong final quarter performance with profits ahead of target.

The business recovery, financial advisory and property services consultancy issued a trading update for the year ended 30 April, ahead of announcing its annual results on 9 July.

The firm with offices in Aberdeen, Dundee, Edinburgh, Glasgow and Inverness has its net debt down to £6 million after taking over Barker Storey Matthews and KRE in Newcastle in the last year .

The group said it expected revenue and profit for the financial year to be "comfortably ahead of market expectations", driven partly by successful fee realisations.

It said: "The integration of our recent acquisitions is proceeding well and their trading in the initial post-acquisition period is in line with our expectations."

Begbies Traynor says it has benefited from growth in in corporate insolvencies in the last year 

Executive chairman Ric Traynor said: "We have had a successful end to our financial year with our results anticipated to be comfortably ahead of market expectations.

"We enter the new financial year with a strong order book and favourable market conditions, and are well placed to continue our track record of earnings growth."

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