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Highlights

  • Begbies’ revenue increased by 15.8% YoY to GBP 76.3 million in H1FY25
  • H1FY25 adjusted EBITDA rose by 19.5% YoY, driven by operating margin improvement and cost management
  • As per the company, it is on track to reach its GBP 200 million medium-term revenue target

Begbies Traynor Group PLC (LSE:BEG) is a consultancy specialising in business recovery, financial advisory, and property services.

In the first half of the financial year 2025 (H1FY25), BEG’s revenue increased by 15.8% YoY, reaching GBP 76.3 million compared to GBP 65.9 million in H1FY24, with an impressive 11% YoY organic growth and 5% YoY acquired growth, driven by higher insolvency cases and property auctions.

 The business recovery segment saw a 12% YoY increase in revenue, while advisory services surged 39% YoY to GBP 11.4 million, fueled by team expansion and continued investment in restructuring and debt advisory services.

Adjusted EBITDA for the period rose 19.5% YoY to GBP 15.3 million, up from GBP 12.8 million in H1FY24. It was supported by a notable improvement in operating margins, which reached 16.5%. This profitability boost can be attributed to higher business recovery activity, cost management efforts, and increased digital investments. Process improvements further reduced expenses, leading to enhanced efficiency.

Company Outlook

The group remains confident in meeting its full-year expectations, bolstered by the financial performance in the first half and favorable market conditions. As per the company, it is on track to achieve its GBP 200 million medium-term revenue target.

UK insolvencies continue to remain high, supporting ongoing growth in business recovery, although cost pressures and prolonged higher interest rates present challenges. The advisory team is expanding, supported by a healthy pipeline of engagements, ensuring the company’s ability to effectively support clients and maintain its momentum in the market.

Top 10 Shareholders

Begbies’ top 10 shareholders account for approximately 51.08% of the total shares. Richard William Traynor holds the largest stake with around 17.03%, followed by Close Brothers Asset Management with about 7.25%, as shown in the chart below.

 Price Performance

The stock price of BEG has surged by around 1.47% in the past month however, it has declined by around 6.79% in the past six months. The stock’s 52-week low and high are GBX 83.08 and GBX 115.00, respectively. As of 20 February 2025, the stock’s closing price is GBX 96.00.

Note 1: Past performance is not a reliable indicator of future performance.
Note 2: The reference data for all price data, currency, technical indicators, support, and resistance levels is 20  February 2025. The reference data in this report has been partly sourced from EODHD/Others.