Begbies Traynor Share Discussion Threads

[amanitaangelicus] 26/7/2023 08:18

They just buy business. Simples. If they cant make a mint now, never will.

[bby88c] 25/7/2023 14:26

I have added some more but I am not expecting returns for some time but they can do well in this environment going forward.

[edmonda] 20/7/2023 12:49

Investor Presentation - video recording

Begbies Traynor Group plc (AIM: BEG), the professional services consultancy, conducted an Investor Presentation covering their final results for the year ended 30 April 2023.

Ric Traynor (Executive Chairman) and Nick Taylor (Group Finance Director) talked through the performance in their key business areas of insolvency, property advisory & transactional services, and also outlined their future plans. Management then answered a wide range of questions from the audience.

The full presentation video has been divided into chapters as below:
0:00:03 Introduction and results highlights
0:03:19 Financials
0:13:15 Strategic Review
0:25:52 Summary
0:26:45 Questions & Answers

Link to full video:

[bby88c] 18/7/2023 17:16

This should be a healthy few years for BEG, so I have bought a few.

[aleman] 18/7/2023 15:49

Media are adding monthly insolvencies together and reporting that Q2/2023 had the highest quarterly corporate insolvencies since Q1/2009. (And then also report we're still looking at another 0.5% rate rise next time.)

[aleman] 18/7/2023 11:40

The deteriorating trends in company insolvencies continue in England and Wales, Scotland and, to a lesser extend, Nothern Ireland.

The IVA trend moderated a little but 37% more Breathing Space orders and higher debt relief orders and bankruptcies suggest the underlying trend for individuals is still getting singificantly worse.

[boonkoh] 18/7/2023 10:16

Latest Insolvency stats out. Compulsory liquidations up 20%+ in June YoY. If this holds should infer good organic growth for Begbies.

[aleman] 13/7/2023 10:58

The economy seems to be deteriorating more rapidly now.

Today’s Bank of England credit conditions survey shows that a net balance of 30.9% of lenders said the default rate on secured loans to households had risen in the last three months. That’s the highest reading since the second quarter of 2009.

[tomps2] 12/7/2023 08:15

Begbies Traynor Group (BEG) Full Year 2023 Results presentation - July 23

Begbies Traynor Executive Chairman, Ric Traynor and Group Finance Director Nick Taylor present final results for the year ended 30 April 2023.

Watch the video here:

Or listen to the podcast here:

[topvest] 11/7/2023 12:38

Well I sold out my final half-size holding first thing. 3-bagged before dividends, so its been a good share for me. Ric Traynor has done very well.

I'm not happy with the deemed remuneration - adjusting it back overstates underlying profits. P/E is very high if you adjust part or all of this back given it was £12.3m in 2023 and £10m in 2022.

Anyway, its a good company...well the insolvency segment is, but for me the valuation is too rich even given good prospects. They pay out most of the cashflow in dividends and that is less than 4p so a valuation above a £1 looks stretched in my view.

[chessmaster10] 11/7/2023 11:48

Tricky one.

Some interesting comments on Stockopedia, basically stating that the accounting practices are not illegitimate, but do massage the numbers to some extent, and mean that in real terms the share price reflects pretty much the current value of the business.

So how do we break upwards and above that long term 150p threshold?

Hopefully the management presentation will go down well, and with interest rates looking like they'll keep rising, the next 12 months+ should see increased business for Begbies - as long as they don't dilute too much or over-compensate the management.

There's no reason for the share price to collapse, but no reason for it to take-off either.

We may be range-bound for a while.

[lefrene] 11/7/2023 08:12

Seems a classic 'sell the news' reaction. But one to hold, a sound business with a strategy, and a liklihood of more business failures ahead as the current recession picks up pace.

[the bolton wanderer] 11/7/2023 07:22

Yes the analysts are probably saying 'only a 9% dividend rise...we wanted 10%'
Good results again and I keep buying little chunks which I will do up to £1.50.

[rob762243] 11/7/2023 07:14

Was not expecting it to be down on opening

[edmonda] 11/7/2023 06:52

Agreed

FY23 results show ongoing track record of performance across the economic cycle. Revs rose 11% and the dividend 9%, rising for 6 consecutive years. With a confident outlook ED keep a 175p/share fair value.

Read & hear new note from Equity Dev below + you can register for the BEG webinar on 19/7 there too:

[this_is_me] 11/7/2023 06:27

Revenue up, profit up, earnings up, dividend up, outlook "confident of a further year of growth". Looks good.

[gswredland] 07/7/2023 08:19

Probably start to -results this Tuesday

[johndoe23] 07/7/2023 08:13

You would have thought with all the doom and gloom this would be moving on up, but not really the case. Why?

[aleman] 21/6/2023 15:21

Did we have this already? I can't see it on the thread. Things look to be going downhill rapidly. Lots of people I know with small consumer facing businesses are already worried by intermittent weak trade that started around March and is now up and down with weather. It's eating into their profits and one or two are no longer making any. They are even more worried now by the recent ratcheting up of interest rate expectations.

h ttps://www.credit-connect.co.uk/news/business-insolvencies-jumped-40-in-may/

Latest figures from the Insolvency Service have shown that the number of business insolvencies in England & Wales for May 2023 was 2,552, 40% higher than in the same month in the previous year (1,825 in May 2022). The figures were at higher than levels seen while the Government support measures were in place in response to the coronavirus (Covid-19) pandemic and also higher than pre-pandemic numbers.

[johndoe23] 21/6/2023 15:13

Needs to break 145p resistance first target