Begbies Traynor Share Discussion Threads

[amanitaangelicus] 17/4/2024 14:41

BEG love to pocketline their own pockets. Britain seen the worst 4 yrs for eons and BEGs are still wallowing. Expanderitis is an expensive disease.

[edmonda] 03/4/2024 08:33

New research note out today from Equity Dev reviewing the potential for BEG to push top line revenues towards c £200m pa in next 3-5 years and reaffirming their 175p/share fair value.
Free access to read note / hear summary at:

[spawny100] 18/3/2024 11:51

BEG just been on R4 programme today called "Dead Company Walking". Interesting listen. BEG should be in a good position the sound of it.

[gswredland] 15/3/2024 15:56

Thanks Aleman.
This looks like it maybe about to break out of the 108-115 trading range, fingers crossed!

[aleman] 15/3/2024 14:16

The number of registered company insolvencies in February 2024 was 2,102, 17% higher than in the same month in the previous year (1,801 in February 2023).

For individuals, the total number of insolvencies in February 2024 was 10,136, 23% higher than in the same month in the previous year (8,239 in February 2023).

[route1] 24/2/2024 05:41

Still sitting on the fence with this one, beginning to lose patience especially given the amount of insolvency work that is available to them, although others have noted that they have had a practice of working with many smaller companies rather than choosing the larger ones, which does involve them in recruiting more staff.At this point in time the Analysts consensus price target of £1.70 would seem a long way off.

[peddlers] 22/2/2024 09:42

Took the opportunity to buy some BEG !

Good luck

P.

[aleman] 21/2/2024 09:55

I thought I read somewhere that BEG were very slowly moving up the value chain to do more middling sized companies? This case study has over 400 employees and a pension deficit of over £100m.

[suetballs] 21/2/2024 09:30

adipsia - a good assessment for which many thanks.
Now do I sell ......
Suet

[adipsia1] 21/2/2024 09:18

As I've mentioned previously, the reason that high insolvency levels and distress in the UK market isn't having such a dramatic effect upon the BEG bottom-line, is that they operate in the low/volume end of the corporate market. Their income is always going to be impacted by the asset-position of the business over which they are appointed. Loads of small company CVLs doesn't add up to great profits... what it does add up to is a requirement for more expensive employees and increased overhead.

Compare and contrast: BEG - £122m fee income, 1,072 employees, Operating profit £7.1m, Operating margin 5.9%. FRP - £104m fee income, 510 employees, Operating profit £16m, Operating margin 15.4%.

Now I realise that BEG have begun diversifying into other fringe areas, but their core remains insolvency and the fact is that they are not picking up the most lucrative restructuring income from larger Administrations. This has - and for the foreseeable future will remain with the likes of FRP, Interpath (ex-KPMG), Teneo (ex-Deloitte), PwC, Ernst & Young and other larger American-owned companies like Kroll.

This is the reason why BEGs bottom-line does not show them capitalising on the poor state of UK plc. They're not alchemists and they are handling a load of base metal.

[route1] 08/2/2024 17:33

It should be doing a lot lot lot better, the analysts price targets are around £1.70 for this year, so we have a long way to go

[whilstev] 05/2/2024 13:27

Yes need the activity levels to feed through to the bottom line to get the share price moving.

[fozzie] 05/2/2024 11:05

A mystery BEG doesn't do better given the sweet spot it finds itself in.

[aleman] 05/2/2024 10:47

Britain faces its highest level of corporate insolvencies on record this year as businesses crumble under the pressure of higher interest rates.

An unprecedented 33,000 companies will go under this year, according to the Centre for Economics and Business Research (CEBR), many of which will never have recovered from the impact of the pandemic.

The consultancy increased its estimate for insolvencies from 28,000 as it warned the retail and hospitality sectors “have nearly caught up with construction in terms of insolvency numbers in 2023”.

It said the figures would be a new record since 2013, where comparable statistics are available, although it added that its own analysis suggests insolvencies would have been higher in the 1990s.

[the pie] 15/1/2024 14:45

Well that is me out. New year and all that. Had high hopes for this one but sometimes you've just got to find somewhere else for your money. BEG will no doubt double in the next six months!! GLA

[the bolton wanderer] 22/12/2023 13:37

I would agree that it's been a disappointing year for the share price but not for the company.
Here's to increased profits and dividends in 2024.
All the best everyone.

[whilstev] 22/12/2023 08:29

Half year results were reported on the 11th

[route1] 22/12/2023 01:38

What's with the thumbs down, perfectly reasonable question, as the earnings were not reported as scheduled.You seem to have a problem with your Thumbs, are you sick, maybe you need to see a doctor

[daneswooddynamo] 21/12/2023 15:27

A rather disappointing performer this year given the backdrop

[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.