Begbies Traynor Share Discussion Threads

[aleman] 21/12/2023 15:09

Number of retailers in financial distress in Q4 increases significantly from Q3.

[route1] 20/12/2023 09:19

At what time today will the earnings report be released?

[glaws2] 13/12/2023 12:09

Well put Aleman

[aleman] 12/12/2023 17:06

BEG has been doing complementary non-insolvency work for years and it seems to have fit in fine. It's nothing new and they seem to know what they are doing. It's been evolution rather than revolution.

BEG's business is slightly more balanced/slightly less countercyclical than FRP as far as I can tell. You'd expect FRP to do slightly better in a downturn and BEG to do slightly better in an upturn, would you not?

[adipsia1] 12/12/2023 13:01

IMO wishful thinking in terms of more complex and remunerative work from BEG. BEG are efficient undertakers, not even into palliative care and so many miles away from profitable restructuring work... hence the move towards diversification.Question: How do recent acquisitions fit into any insolvency-based model ? Are they planning to become commercial estate agents ? That doesn't bode well in this economy.

[aleman] 12/12/2023 09:20

BEG's last FY results:

Well placed to further increase exposure to larger, more complex insolvency appointments with our 11% share of the administration market ranking us second largest nationally by volume (increase from fourth over the last five years)

[adipsia1] 12/12/2023 07:55

Stunning H1 results out from FRP this morning would show that the restructuring and insolvency market is getting into full-flow. Shame that BEG don't seem able to capture more of the lucrative Administrations market where FRP reign supreme.

[boonkoh] 11/12/2023 16:30

Strong operational performance that creates meaningful profits and cashflow.But then of course you've got to pay for your acquisitions and generous earnouts.Key question is - those acquired businesses, still going to be generating the same profitability, after all the earnouts and deferred considerations are done? So statutory PBT jumps?

[tomps2] 11/12/2023 14:18

Begbies Traynor Group (BEG) Half year results presentation - December 23

Begbies Traynor Group Executive Chairman, Ric Traynor and Group Finance Director, Nick Taylor present half year results for the six months ended 31 October 2023, followed by Q&A.

Watch the video here:

Or listen to the podcast here:

[edmonda] 11/12/2023 09:40

Decent H1 results and confidence in outlook.

Equity Development note out: raising revenue forecasts, but retains adjusted PBT estimates and a Fair Value of 175p / share.

Free access to research here, plus audio summary:

[the bolton wanderer] 08/12/2023 19:29

Maybe this so called bad news that's been coming will be announced with the results on Monday...haha.
I'm happy to hold and buy more in January when I receive more funds.

[chelseamann] 08/12/2023 14:31

the sell of 5303 is in fact a purchase made by me

[amanitaangelicus] 07/12/2023 08:54

Bought business ...nowt organic. Partners, gaffers wanting loads dosh. Economies of scale, synergy ...pish poor. Gravytrain. UK improving very slowly.

[pottsypotts] 27/11/2023 16:28

Something going on here, falling away like there is bad news in the pipeline

[aleman] 23/11/2023 14:21

And it was already showing in business deaths in 2022. What will 2023 look like?



Between 2021 and 2022, the number of UK business births decreased from 364,000 to 337,000 leading to a fall in the birth rate from 12.4% to 11.5% over the two years.

The number of UK business deaths increased from 328,000 to 345,000 between 2021 and 2022 leading to an increase in the death rate from 11.2% to 11.8% over the two years.

This is the first time the business death rate has exceeded the business birth rate since 2010.

[aleman] 23/11/2023 14:18

Hhmmm ... UK net immigration has been revised up to 745k for 2022. Adjust GDP for that higher rate of net immigration and GDP/capita is down just over 1% over the last 6 quarters. Everyone feels like they're getting poorer because they are on average. And that's why BEG have been getting busier. Will all those rate rise make an obscured 18-month recession any better?

[edmonda] 20/11/2023 08:00

A positive H1 trading update ahead of interims due 11 Dec: says activity levels across the group are encouraging.

New research note from Equity Dev out, retaining 175p/share Fair Value, as you can read/hear below :

[aleman] 14/11/2023 11:25

Company insolvencies continue to rise significantly in October (particularly at the smaller end which is BEG's main market). Individual insolvencies still show a flatter trend though they are probably being moderated by significant rises in breathing space orders.

[mighunter] 08/11/2023 07:46

Accounts showing breakdown are available via Companies house (see Page 2 summary). The £100k discrepancy is creditors falling due after more than one year and provisions for liabilities.

[aleman] 08/11/2023 07:39

Probably working capital. Legal companies have to do months of work before they get paid, so receivables could end up outweighing payables by a large amount ... though it could be other things, too.

[finkwot] 08/11/2023 07:31

not really relevant to BEG, but something in today's RNS puzzles me:

"It had net assets of GBP0.2m (including GBP0.3m net cash) at 31 March 2023."

The non-cash assets must be worth negative £100k, but if debt is accounted for in calculating net cash, how is that achieved? What has a negative value apart from debt?

[zangdook] 31/10/2023 07:57

They issued about 1.8m new shares over the last two months, a tad over 1% of the shares in issue. Of those, 1.5m were announced on Oct 5 when the share price was already at the recent low. I don't think that's a major factor.

[amanitaangelicus] 31/10/2023 07:37

In a great position. No worries.

[route1] 25/10/2023 12:47

What is behind this strategy?Apart from diluting and depressing the share price?