Begbies Traynor Share Discussion Threads

[rob762243] 13/12/2022 08:47

Did not expect to be down 4% with those results...

[edmonda] 13/12/2022 07:34

Another strong half reflects the benefits of an increasingly diverse base of cyclical and counter-cyclical revenues, built progressively via a series of strategic acquisitions and organic investment. The double-digit revenue and profit growth delivered by both divisions in H1 puts the group on track to achieve full year forecasts. The detail reveals consistent growth derived both organically and from a series of acquisitions which have added to the breadth of professional expertise and BEG’s coverage of its key target markets.

We have held our full year forecasts and plan to review them when BEG reports its Q3 trading update in late February 2023. Our current estimates underpin a retained 175p/share fair value, with upside potential if UK insolvencies, particularly administrations, continue to gather momentum, and the group secures further acquisitions which continue to build expertise and capacity. We have reflected on BEG’s rating vs the broader market and its intrinsic value vs its peers in this note.

[steadyaway1] 13/12/2022 07:32

Results good decent enough, across the board. Plenty left in the tank with the admins >30% below pre pandemic levels... banks still not pulling the trigger by the looks of it. Normally post xmas is when consumer facing businesses pull the plug, after receiving customer cash but before paying suppliers re xmas trading.

[2bluelynn] 08/12/2022 17:50

K3C bid at 3.50 per share ..... surprised these didn't rise more late pm as similar business model .

[2bluelynn] 05/12/2022 08:47

Loads of 10k buys hitting the book at 149.80

[adipsia1] 02/12/2022 12:03

Interesting to see BEG approaching 148p resistance level again. Given that K3C broke out yesterday and FRP is also trending, it looks probable that BEG will break through soon.

[steadyaway1] 30/11/2022 14:55

Always seems to be caught between a rock and a hard place on wider market / economic bad news!

[rimau1] 30/11/2022 12:30

This stock moves in mysterious ways, one to tuck away.

[hubs] 29/11/2022 19:14

And one day, probably for no apparent or immediate reason, BEG will push through 150 like a knife through butter...and then everything becomes support! Gla.

[steadyaway1] 29/11/2022 14:59

Who knows. They've picked up some decent work recently like the British Volt subsid and the Ping Pong bar chain... will be loads of leisure in the pipeline.

[2bluelynn] 29/11/2022 14:10

Lovely rise hope it hold no it's broken £140

[2bluelynn] 24/11/2022 12:55

Interesting what Hilsden trading say about Santa rally and next year . Should be good for K3c and Beg trainers They say Will we see a Santa Rally? Some of the notes from the big firms are suggesting not, but the bulls are hanging in there so far. Next leg up to properly start later in December most likely. Next year though could be more pessimistic and I expect a lot more companies to shut up shop as they drown under their over leveraged debt piles. Just recently in the headlines we have made.com, Joules, Boden looking dicey, and probably a whole host of other middle class shops as the squeezed middle get squeezed once again.

[maddogbeast] 17/11/2022 10:27

Probably just traders that were hoping for a larger uplift in the numbers for a quick win.

I like the consistent and steady improvement in the numbers, much better than the boom and bust of 2008/9. This time I suspect it will be consistent growth over several years, especially as the Government have already done their 'saving' of businesses with Covid relief loans, legislation changes, etc.

The share price should be much higher imo, but as a long term hold and shrewd growth decisions being made by the company, I'm more than happy putting this away for the next few years at least and watching the share price rise gradually.

[2bluelynn] 17/11/2022 10:00

Wonder why it hasn't bizarre

[edmonda] 17/11/2022 07:53

Agreed - a confident update on H1 trading with revs seen 12% higher and PBT up 13% to £9m.
Equity Development still regard the group as very well placed against a difficult economic backdrop, retain FY forecasts and their 175p/share Fair Value.

You can read new research note/listen to summary here (free access):

[daneswooddynamo] 17/11/2022 07:39

Should start moving higher

[rimau1] 17/11/2022 07:38

Reassuring update. Trading in line with expectations so we can still expect £20m pbt this year which puts BEG on about 13x earnings versus a historical average of 15x as we begin to see efficiency savings and operational leverage from the recent acquisitions. Evidenced by being No1 in the national insolvency market. Moved to a net debt position due to earn outs on 2021’s acquisition spree so no surprises there. Steady as she goes with a useful 3% dividend yield.

[this_is_me] 17/11/2022 07:26

Momentum starting to build as zombie companies start to fail following withdrawal of covid support packages.

[steadyaway1] 16/11/2022 09:14

Uk inflation higher than expected... so rates higher for longer etc... Yes increases notional risk free rate (although my guess that is US 10 year now in any event) but surely that boosts demand for insolvency services by more? Clearly still value to be had here given the tight labour market (caused in part by Brexit) keeping rates higher for longer than many other countries...

[steadyaway1] 11/11/2022 08:16

Fairly sedate FRP update this morning. It's not yet seen a material pick up in big admins, but CVLs are high. Decent CF work and pipeline and no upgrades. Read across for BEG with more of the bread and butter being CVLs and blue sky trading admins being a nice to have (rather than core like FRP) then would expect a little more positivity from BEG but who knows. Either way.... personal view is that admins are gathering pace quickly now with economy entering recession with no new bail outs expected.

[2bluelynn] 10/11/2022 17:12

Knew this was about to blow after it for over £1.30 on weeds and upwards

[2bluelynn] 09/11/2022 16:15

It's popped £1.30 at last

[daneswooddynamo] 03/11/2022 16:57

The share price performance relative to frp is a bit dull, ripe for a catch up imo