Begbies Traynor Dividends - BEG

Begbies Traynor Dividends - BEG

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Stock Name Stock Symbol Market Stock Type
Begbies Traynor Group Plc BEG London Ordinary Share
  Price Change Price Change % Stock Price Last Trade
-0.40 -0.29% 136.60 16:35:05
Open Price Low Price High Price Close Price Previous Close
137.20 137.20 139.60 136.60 137.00
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Begbies Traynor BEG Dividends History

Announcement Date Type Currency Dividend Amount Period Start Period End Ex Date Record Date Payment Date Total Dividend Amount

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Posted at 22/9/2022 09:07 by 2bluelynn
Good statement off epic BEG begbies this morning
Posted at 22/9/2022 07:46 by 2vdm
Agree podgyted. BEG is down with the rest of the market, but looks like there's plenty of work in the pipeline. Sad generally, but I suspect the govnt's energy bail out for business won't be enough and we'll see more liquidations coming.
Posted at 12/9/2022 09:01 by 2vdm
Current administrations league table as follows: FRP 88, BEG 60, Chamberlain & Co 51, Leonard Curtis 37, Interpath 34, Quantuma 34,Kroll 30, Grant Thornton 27
Posted at 09/9/2022 15:46 by daneswooddynamo
The market agrees with you. A fair bit of technical resistance for beg here but the odds must be on further progress soon
Posted at 08/8/2022 17:20 by daneswooddynamo
Got loads of both, the businesses are not identical but the main focus is corporate distress and let’s face it that is going to be coming through in spades as interest rates rise. Also the banks are now in decent shape and that actually means they are more willing to put zombie situations to the wall as they can take some pain if necessary. Imo the beg valuation looks a good deal cheaper than frp at the moment
Posted at 05/8/2022 10:00 by adipsia1
Well worth signing up with for market statistics relating to insolvency appointments... especially if you hold FRP, BEG or K3C. FRP currently moving well ahead of competition in terms of Administration appointments.
Posted at 02/8/2022 12:13 by blue377 Not good for a lot of Companies but should be for BEG
Posted at 21/7/2022 09:08 by tomps2
Begbies Traynor (BEG) Full Year 2022 results presentation - July 2022 Begbies Traynor management Ric Traynor, Executive Chairman and Nick Taylor, Group Finance Director, present results for the year ended 30 April 2022. Watch the video here: Or listen to the podcast here:
Posted at 16/2/2022 16:43 by tole top counter-cyclical stockBegbies Traynor Group (LSE: BEG) also looks like one of the best stocks to buy in today's economic climate. The insolvency specialist has a long record of yearly profits growth behind it, a result of the company's ongoing (and ambitious) acquisition strategy. I'm tipping earnings to continue rising strongly as Britain's economy worsens.Unfortunately insolvencies are rising fast as inflationary pressures increase and the end of financial support from furlough schemes bites. The Insolvency Service says that the there were 1,560 corporate insolvencies in January, up from 1,488 in December. January's number was also more than double that recorded in January 2021.Recent trading updates from Begbies Traynor's services also illustrate the increasing turbulence facing British firms. Revenues soared 39% in the six months to October, latest financials showed. Encouragingly the company has continued to build the business to capitalise on this fertile environment. In January it snapped up Daniells Harrison Surveyors for a fee that could rise to £2m.It's true that Begbies Traynor operates in a highly-regulated environment. This means profits could suffer badly if new laws come into effect. But at current prices I still think it's an attractive UK share to buy today. It trades on a forward PEG ratio of just 0.5. A 2.8% dividend yield meanwhile offers an extra sweetener for an investor like me.
Posted at 26/5/2021 15:21 by wcj
iii piece yesterday: Over the next six months, this company should attract more and more momentum buying. Last December at 87p, I set out a ‘buy’ rationale on AIM-listed corporate recovery specialist Begbies Traynor Group BEG 0.15% . Its interim results to 31 October had cited the biggest quarterly leap in UK financially distressed businesses since 2017 – up 6% to 557,000 despite a legal backlog thwarting wind-up petitions. Acquisitive firms usually enjoy a near-term boost Operating margins had also re-rated to 15% after databases have shown annual mid-single-figure percentages. Mind however, there is scope to take radically different views as to profit, hence price-to-earnings (PE) multiples also. When a group like this is acquisitive (four already this year) transaction costs will be significant but are stripped out of ‘normalised217; profit. Amortisation of goodwill (the premium paid to tangible value, which is usually big for a successful ‘people business’) is also deducted, albeit chiefly an accounting convention. It does mean such listed companies can report dramatic uplifts in performance, but you may not know exactly how successful are the deals for a few years. With earn-outs typically taking up to five years, these can also weigh on profits by way of contingent liabilities. Personalities may clash as people businesses integrate. Once vendors have completed their earn-outs, they and other staff may move on. Discover how to be a better investor 10 shares set for earnings growth Such concerns are brushed aside, however, amid current ‘risk-on’; sentiment towards equities. Begbies has progressively re-rated over 60% and now tests 140p a share, which capitalises it at around £200 million. Management says results for the group’s year to end-April will show revenue of £83.7 million versus expectations for £77-79 million, and adjusted pre-tax profit will be £11.5 million versus £10.5-11.5 million. Encouragingly, this is before the 2021 acquisitions kick in. A mercurial, if potentially very rewarding, business to project Various factors conflate, if not conflict. The broad sense of owning Begbies shares is as a play on more challenged times – its quarterly ‘red flag’ alert reports of UK businesses showing a trend of rising financial stress in the year or so. This may get worse as government support measures taper off to leave vulnerable firms exposed. A curiosity has been such red flag reports showing a 42% year-on-year increase in ‘significant’ financial distress since the first quarter of 2020. Yet the actual UK insolvency rate has plunged 34% to 11,081 firms in the year to end-March 2021 – due to financial support measures. Management says it raised UK market share from 8% to 10.4% over two years from October 2018. This, together with an increase in the average case size, has mitigated weakness in the overall market. The sense that insolvencies are poised to rise – Begbies cites an expected 50% increase during 2021 – grates with economic messaging that the UK economy is already experiencing its strongest recovery since the Second World War. Although it could be that an overdue clearance of ‘zombie’ firms (over-reliant on debt) is about to happen. Also blurring projections on Begbies’ revenue/profit is how insolvencies often have a deferred element, paid out of the administration process, which may take years. Potentially this could enhance Begbies’ numbers on, say, a three-year view. You can therefore entertain varying scenarios, possibly with a median even base-case outlook for ‘normalised217; net profit of £10 million – or higher, if synergies arise from the takeovers. Mind, better performance will increase earn-outs, hence temper profits growth. Modest dilution from deals helps a low PE scenario With near 151 million shares issued (the deals have not involved onerous dilution and the group has circa £3 million net cash not debt) a £10 million normalised net profit scenario implies a forward PE sub 7x – hence the stock has justifiably tweaked up from about 125p before a 20 May year-end trading update. As AIM stocks go, Begbies is a quality operation in essential business services and with a proven earnings/dividend record. It offers a radically better risk/reward profile than many that are more speculative. The stock is down a penny or two this morning, but on a six months’ view I would not be surprised if it continues overall to attract momentum buying. The chart, underlying potential and valuation all look attractive, assuming insolvencies do rise. So while it is tricky to confidently assert ‘buy’ on a longer-term view, the company’s credentials do look stronger than ever. I adjust stance to ‘hold’, simply reflecting wider uncertainties and a re-rating, but this should not be interpreted as a downgrade. It is just more speculative now to assert a conviction of ‘buy’. Busily acquisitive this year, with the two biggest-ever deals January saw the £21 million (including earn-outs) acquisition of CVR Global, a leading insolvency practitioner, which added the group’s first overseas office. A significant overlap of operating locations was said to enable £750,000 of annualised operating synergies. Then in February came the £1 million purchase of a small London-based firm of chartered surveyors, to integrate with Eddisons, the group’s property advisory side. Underlying group trading also appeared to improve by this point: on 23 February it was said the annual results would be “at least” in line with expectations. In March, another key insolvency practice was bought: David Rubin & Partners, in London/Guernsey, for £25 million (including earn-outs). This was Begbies’ largest acquisition, intended to boost its presence in the UK business recovery market especially in London. A £22 million equity placed at 105.5p incurred 16% dilution. Stockwatch: time to upgrade this mid-cap share Check out our award-winning stocks and shares Isa May has seen the addition of MAF, a Midlands-based finance broker for up to £12 million with earn-outs. Working with banks and specialist funders, MAF arranges finance for firms in a wide range of industries towards buying equipment, vehicles and property. It is hoped to complement other Begbies services, especially debt advisory, and should also extend the group’s relationships with lenders. Begbies Traynor Group - financial summary Year ended 30 Apr 2015 2016 2017 2018 2019 2020 Turnover (£ million) 45.4 50.1 49.7 52.4 60.1 70.5 Operating margin (%) 0.7 3.7 2.9 5.3 7.3 5.5 Operating profit (£m) 0.3 1.9 1.4 2.8 4.4 3.9 Net profit (£m) -1.6 0.5 -0.3 1.4 2.3 0.9 EPS - reported (p) -0.6 0.4 0.2 1.3 1.9 0.7 EPS - normalised (p) 1.4 0.9 1.3 2.0 2.9 2.4 Price/earnings ratio (x) 57.4 Return on equity (%) -1.0 0.7 0.4 2.5 3.9 1.5 Operating cashflow/share (p) 3.9 6.2 5.2 6.6 4.9 1.3 Capital expenditure/share (p) 1.3 0.5 0.3 0.4 0.9 0.6 Free cashflow/share (p) 2.6 5.8 4.9 6.2 4.0 0.7 Dividends per share (p) 2.2 2.2 2.2 2.4 2.6 2.8 Yield (%) 2.1 Covered by earnings (x) -0.3 0.2 0.1 0.5 0.7 0.3 Cash (£m) 9.2 7.6 6.7 3.5 4.0 7.3 Net debt (£m) 12.8 10.4 10.3 15.7 14.6 11.1 Net assets (£m) 61.0 60.2 58.1 56.2 58.1 65.6 Net assets per share (p) 55.7 54.3 54.4 51.1 50.8 51.3 Source: historic company REFS and company accounts Pattern of rising distress levels in UK business If Begbies’ red flag reports are portentous than a rear-view mirror, the UK insolvencies market is now primed. The fourth-quarter 2020 report had cited a 13% increase in businesses in significant distress – the largest since the second quarter of 2017 – albeit unsurprising as lockdowns tightened once again after a relatively easy summer. Each of the 22 sectors monitored showed an increase in significant distress, with 18 experiencing double-digit increases in the final quarter of 2020. Moreover, it was said likely “these figures are the tip of a very large iceberg” given Covid-19 had reduced court activity and winding-up petitions. Stockwatch: an inflation survival plan for investors Coming soon: The ii Family Money Show The first-quarter 2021 report proclaimed a 15% increase in firms in significant distress over the previous quarter alone: “This is a very concerning for the UK economy and highlights the deteriorating financial situation for many companies.” That is a reality check for optimists who reckon on a Roaring Twenties period ahead – as disposable income conflates with demand now unleashed. Begbies’ reports are effectively saying raised consumer demand is vital to offset potentially lower corporate demand within the overall economy. But it could just mean a vigorous restructuring lies ahead. Quite a tough call then, with fresh money It depends how disciplined you want to be, and how speculative. Unless Begbies’ reading of the insolvency market is flawed, and its expansion has come at precisely the wrong time, profit-taking looks premature. If broadly correct, then analyst targets of 165p a share are well justified and will get raised again in due course. Hold.
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