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
-0.80 -0.61% 130.20 11:52:23
Open Price Low Price High Price Close Price Previous Close
131.00 130.00 131.00 131.00
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Industry Sector

Begbies Traynor BEG Dividends History

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

Top Dividend Posts

r2oo: I have a feeling this will be a very good year for BEG.
tomps2: #BEG.GB Interim results presentation to analysts. Https:// Interesting facts on insolvencies: they say worst hit are construction, retail & of course hospitality. There's an increase in corporate debt (and difficulty fulfilling borrowing criteria) and working capital pressures. Administrations are still below pre-pandemic levels; liquidation volumes back up to pre-pandemic levels.
route1: Very low volume today.Begbies share price seems "frozen in time " atm.Everyone waiting for an outcome of the court case?Is the court case SO important to BEG,sfuture?
km18: From WealthOracleAM a few months ago.... Begbies Traynor provides confidential business rescue advice or in simple terms corporate insolvency consulting. They are a leader in UK with more than 100 offices working with a wide range of clients from small businesses to large corporations and financial institutions. They have been around since 1989 and currently have 3 brands under the umbrella – PUGH, Ernest Wilson and Eddisons. Pugh is working primarily with private clients, charities and public sector, Ernest Wilson is a leading agent for businesses for sale. Eddisons is a company established in 1844 and their chartered surveyors operate from 16 offices in UK. Stating the usual assessment of goodwill and acquisitions won’t do the job here, since that their operating activity. Instead, we are going to look at the assets they have bought and performance for the year. Earlier in July their report for the 12 months to April was stellar. All division saw growth during the period and margins were improved. The vertical acquisition of CVR Global and David Rubin & Partners (they do the same thing as BEG) did not hinder the net cash position (excluding the IFRS leases). The acquisitions during the last years have swelled the headcount (nearly double at 1000) and the ratio of fee earners to support staff. It has also brought diversification in the business and operational leverage.
tole: cheap UK share for an economic slumpEconomic conditions in Britain are becoming increasingly alarming as soaring inflation and supply chain problems persist. Just today, EY Club slashed its GDP growth forecasts for 2022 by almost a full percentage point, to 5.6%. It warned of weak, sub-2% annual growth by the middle of the decade too.Investors like me need to consider the threats and the opportunities a deteriorating UK economy creates. I am thinking of investing in Begbies Traynor Group (LSE: BEG). I think trading here will pick up as the number of corporate casualties might unfortunately soar from 2022. This cheap UK share provides financial rescue and recovery services for companies. It is also specialist in the field of corporate insolvencies for both businesses and individuals.Today, Begbies Traynor trades on a forward price-to-earnings growth (PEG) ratio of just 0.5. This is comfortably inside the benchmark of 1 that suggests a stock could be undervalued. Moreover, the support business carries a handy 2.3% dividend for the financial year to April 2022 too.I'd buy Begbies Traynor even though its penchant for acquisitions creates a myriad of risks, such as disappointing profits generation at a newly-acquired business.
tole: acquisition-led UK stock on my radarBegbies Traynor (LSE: BEG) is also high on my shopping list today. This is because I think the number of corporate casualties could unfortunately be poised to soar as the British economy slows and the furlough financial support scheme ends. According to the Insolvency Service there were 1,446 insolvencies in England and Wales last month. That was an eye-watering 56% year-on-year increase.I wouldn't buy this UK share just because I expect profits to leap in the short-to-medium term. I think it could rate terrific shareholder returns over the next 10 years, as its acquisition-led growth strategy rolls on. Begbies Traynor operates in a highly regulated industry and future potential changes in the law could affect its profits.
adipsia1: Interesting to compare and contrast the three non-audit accountancy firms in the UK insolvency/turnaround and M&A space; BEG, FRP and K3C. All firms win their work based around individual 'transactional' income rather than relying upon steady audit fees. Whilst all three have crossover in the restructuring space, a closer analysis of their accounts and market data indicate three very different businesses based upon value vs volume, and advisory work vs insolvency.BEG - have the highest volume of insolvencies in the UK in terms of liquidations, however when you look deeper the individual value of their appointments is likely to be the lowest. They seem to be growing sales based upon bolt-on acquisitions around valuing assets and M&A activity with smaller companies.FRP - appear to be operating on a value vs volume model, focussed upon winning more profitable restructuring work from larger SMEs and quoted companies that would previously have gone to Big Four accountancy firms were it not for conflicts of interest. They're also clearly growing their M&A side which is focussed upon themid-market.K3C - have traditionally operated in the low-value business sales arena, and have clearly made a reputation in M&A for selling small businesses. Last year they acquired Quantuma, an Insolvency turnaround specialist who have grown well over the last few years and now probably sit somewhere between FRP and BEG in terms of case value vs volume.There's much that can be gleaned from the accounts of these three companies. Hopefully this will help to differentiate them in terms of business fundamentals.
tomps2: Begbies Traynor (BEG) FY21 results presentation Executive Chairman Ric Traynor and Group Finance Director Nick Taylor present the Group’s 2021 full-year results, for the period ending 30th April , 2021. Watch the video here: Https:// Or listen to the podcast here: Https://
tole: Wild: Begbies Traynor The British government's furlough schemes have helped keep a lid on insolvency rates during the pandemic. But with these financial support programmes set to end, I think now could be a good time to invest in Begbies Traynor Group (LSE: BEG). Indeed, buying this UK share before full-year results are released on Tuesday 20 July could be a very good idea. Despite a depressed insolvency market Begbies Traynor said in May that full-year revenues would grow ahead of market expectations following a strong fourth-quarter performance. News that trading has remained robust in the new financial period (to April 2022) could help lift the small cap again following recent share price weakness.At current prices Begbies Traynor trades on a rock-bottom forward price-to-earnings (PEG) ratio of 0.4. This provides plenty of scope for a fresh move higher.
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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