Begbies Traynor Share Discussion Threads

[suetballs] 11/1/2025 11:41

About time I think.
Suet

[aleman] 11/1/2025 11:31

Downtrend to break or not? Fundamentals look quite promising.


free stock charts from uk.advfn.com

[contrarian joe] 10/1/2025 18:50

Large positive write up in IC this week.

[wiltowin] 09/1/2025 20:53

Prices are now rising faster in the UK than the US in spite of America’s booming economy. Oh dear.. it's going to be a bumpy ride for British businesses.

[sphere25] 08/1/2025 12:45

It gets worse.

All of that and now the 10 year is spiking in a horrible way. I have exited alot of trading positions. If that yield keeps going, something usually breaks (another Truss moment?) and then we could see all kinds of forced selling, let alone what it means for profits and insolvencies.

Firmer talk of Reeves having to damage the economy further with more tax increases and reduced spending. The mess just gets worse.

But hey...good for BEG right.

Give us a forced selling plunge to buy on ha

That yield better calm down. Prefer to play it safe.

All imo
DYOR

[edmundshaw] 07/1/2025 22:52

Stagflation is a worry. Ways to combat? Reducing spending, paying down debt, and building emergency savings. Ummmmmmmmmm...... over to Rachel...

[sphere25] 06/1/2025 11:21

Trying to piece this year together and it is quite gloomy.

So we have gone from the UK being the fastest growing economy in the G7 in the first half of last year to:

-Downward revision to Q2 2024 GDP growth.
-Growth from July to September was revised down from 0.1pc to zero
-Contraction of 0.1% estimated in months of Sep and Oct....
-An optimistic forecast of Q4 having zero growth by BoE? Already cut the forecast from growth 0.3%

We also have inflation higher than expected and forecast to hit 3%. So the rate cuts not as quick as anticipated with forecast of two cuts now in 2025 vs four pre-Budget. Bank of England’s Monetary Policy Committee (MPC) warned that “most indicators of UK near-term activity have declined”, while highlighting that stubborn inflation would prevent any further cuts in interest rates any time soon.

So is it stagflation? Can they even cut?

Then there is news around the CBI reporting that firms expect activity to fall sharply in the first three months of 2025. The CBI said the economic outlook was now at its weakest in more than two years, while Threadneedle Street warned businesses were reacting to the Budget with “lower headcount, hours and pay and higher prices than otherwise”

More headlines around job vacancies disappearing, retail spending falling, and investment decisions are being shelved or cancelled.

The "R" word now being mentioned alot more prominently.

That slight miss on services today is a huge relief! Hooorah!

I say....Hoooraah! Big round of applause for Services!


Mentioned our market being broken before with the well known issue of flows. Don't know if their will be any substantial pick up seeing all this doom and gloom happening now. I don't know how it plays out, but it feels like having to keep the expectations low on price moves and returns out there. Some will say that is a bullish signal...buy buy buy!

If you have all that though, shouldn't BEG be trading higher?

IC had this last month:

"Begbies trades on a 12-month forward price/earnings (PE) ratio of 8.4 times earnings against a five-year average of 13 times, according to house broker Shore Capital"

Canaccord note kindly posted by Rivaldo above goes with a higher multiple of 14.5 on eps of 10.4p.

Maybe forced sellers to clear here too or is something else at work?

Not fully tuned in here but watching now. Noted blocks of 400k and 386k picked up at 96p after the close on Friday. Price hasn't budged so looks like big sellers are still at work in the market. It is just farting around...well...nothing significant is happening price wise, but curious to see if buying does eventually pick up - should the gloomy headlines continue.

Ideally like to buy in cheaper really (greedy?) at the bottom of the recent range, but I suspect the market will eventually be watching for a break above 106p...to erm....

..confirm the gloom out there!

Let's hope it ends up as a manageable form of gloom.....ooerr...

Over to the BEG experts and Economists out there!

All imo
DYOR

[spawny100] 27/12/2024 09:54

Https://www.aol.co.uk/uk-retailers-brink-collapse-surges-083518196.html

[edmonda] 23/12/2024 12:21

Hear direct from the management: Exec Chair and Group FD will host a Webinar covering their recent strong interims / outlook on Thursday January 9th, starting at 2pm.

All are welcomer and to attend just register here:

[trying2trade] 19/12/2024 14:53

Have taken a small stake.

[edmundshaw] 19/12/2024 11:23

Price down again today. Really a bargain I couldn't resist...

[tomps2] 12/12/2024 16:01

Begbies Traynor (BEG) Half year results presentation - December 2024

Begbies Traynor Executive Chairman, Ric Traynor and Group Finance Director, Nick Taylor present the group’s results for the six months ended 31 October 2024, followed by Q&A.

Watch the video here:

Or listen to the podcast here:

[adipsia1] 11/12/2024 17:52

Good to see some positive price movements at last on BEG. At least long-term downtrend appears to be to have ended and some short-term trends are in place.

[doobz] 11/12/2024 12:50

Lots of wider factors to take into account from January, if Ukraine clears up won’t be too bad but UK still set back under labour I believe. BEG for me is now operating as a hedge for portfolio. Bought at very lows and added today
Best of luck

[suetballs] 11/12/2024 11:24

Thanks Doobz - made me smile.
So beg will be ok - it's just the rest of my portfolio!
Suet

[doobz] 11/12/2024 11:10

Suetballs - we’ve still got 3 years of labour destroying uk Business’

You’ll be absolutely fine I reckon

[suetballs] 11/12/2024 09:37

Nice to see us back over 100p - but I'm 126p for breakeven and that feels a distance away.
But at least there's progress.
Suet

[edmundshaw] 10/12/2024 11:21

Good solid results yet again. Having held this for 9 years now I cannot recall being disappointed by results. Nice to be able to buy back a few under £1 after its forays above 150p in 2022; expect us to get there again soon.

[rivaldo] 10/12/2024 10:40

Good results imo too.

Canaccord have raised their target price slightly to 150p (from 148p).

Forecast EPS rises to 10.4p EPS (from 10.2p EPS) due to the share buybacks, and they see "upside risk" to those forecasts:

"Valuation and Recommendation

Given the strength of H1'25, and what we see as a very supportive macro outlook, we see ongoing upside risk to forecasts in the short-term. Over the medium-term, we would not be surprised to see this accelerate via further accretive bolt-on acquisitions. Our valuation methodology remains unchanged and we continue to value Begbies at 14.5x CY25E P/E, which is a 10% premium to its 10-year average P/E multiple. We believe this is justified by the company's strong prospects at the current point in the cycle. Our new target price is 150p (prev: 148p), +59% implied upside. Maintain BUY."

[martinmc123] 10/12/2024 10:14

4*
Begbies Traynor the professional services consultancy posted half year results for the six months ended 31 October 2024 this morning and performance was robust. Revenue growth was 16% (11% organic, 5% acquired) to £76.3m fuelling adjusted EBITDA growth of 20% to £15.3m. Adjusted profit before tax growth was 16% to 311.5m while statutory PBT was up from £3.0m to £4.7m. Growth was broad based with double digit organic...from WealthOracle

wealthoracle.co.uk/detailed-result-full/BEG/1074

[aleman] 10/12/2024 09:02

These results were very good if the disproportionate increase in lock-up (as yet unbilled work already booked on time sheets) is nothing to worry about. Rising lock-up has been a theme in the legal industry that has been causing a bit of head scratching for investors. The rise here above trend equates to a £3m+ hit to receivables and , ultimately, cashflow. I fancy it is not a problem and will swing back at some point but it wants a question at the AGM if it doesn't. So, the results look good, and possibly very good. The share price looks very cautious for a company that looks likely double in size in 4 or 5 years.

[edmonda] 10/12/2024 07:46

Today BEG reports a further 16% rise in H1 adj PBT, having grown it six-fold in the last decade.
Ratings look too low in that context and in new deep-dive report we set Fair Value at 145p/share
Read note/hear summary below, free access:

[zangdook] 02/12/2024 09:40

But not a word about the price.

[edmonda] 02/12/2024 08:31

Another neat bolt-on today as @BegbiesTrnGroup buys White Maund Insolvency Practitioners who will add to BEG's existing 20 strong team in Brighton

[adipsia1] 20/11/2024 14:54

BEG and FRP may seem superficially similar but the profitability attached to the work referred to them differs greatly. FRP typically are referred larger Administrations which will involve restructuring and turnaround scenarios, whereas BEGs forte is liquidations of companies for whom there is no hope. BEG do receive Administrations but they tend to be smaller, less complex and therefore less profitable. BEGs perception amongst lenders and stakeholders who would refer work, is cheap and cheerful undertakers; FRPs reputation tends to be one where they have the skills and experience to undertake complex refinancing, restructuring or business sales leading to their patient surviving... hence the discrepancy between both companies profit margins.