Begbies Traynor confident in full-year outlook after solid first-half growth
By Benjamin Chiou
Date: Tuesday 09 Dec 2025
(Sharecast News) - Begbies Traynor pointed to "encouraging" momentum seen early in its second half as it reiterated its full-year outlook, following a solid rise in interim revenues and profits.
The financial and real estate advisory firm said it is confident of hitting current market expectations for an adjusted profit before tax (PBT) of £23.7m-£24.9m for the 12 months to 30 April 2026, according to company-compiled consensus. That would mark a slight improvement from the £23.5m reported last year.
For the six months to 31 October, revenues were up 7% year-on-year at £82m. However, adjusted PBT growth was limited to 5%, rising to £12.1m, as group operating margins fell 5 basis points to 16.0% due to increased employment national insurance contributions.
The firm, which is the UK market leader for insolvency services, managed to grow its top line despite the number of corporate insolvencies and administrations both falling slightly over the 12 months to 31 October.
The larger restructuring and advisory division saw 8% growth in revenues to £56.9m, helped by increased activity levels in the restructuring side the business, slightly offset by declines in advisory operations due to a strong comparator the year before. The corporate finance market was also challenging, which delayed deal completions.
Looking to the second half, Begbies Traynor said that "encouraging workflows [are] continuing in H2", including its high-profile appointment as administrators of the Sheffield Wednesday football club in October.
"Our broad range of services, diversified client base, organic growth initiatives and pipeline of acquisition opportunities, leaves us confident of continuing to build upon our strong track record of growth in the current year and beyond," said executive chair Ric Traynor.
The stock was down 0.3% at 109.64p by 1026
The property advisory arm registered 7% growth to £25.1m despite a small dip in national non-residential property transactions
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