Begbies Traynor grows revenue and profits in Q3

Financial advisory outfit Begbies Traynor traded in line with board expectations in the third quarter of its trading year, with both revenues and profits growing year-to-date.

Begbies Traynor told investors on Tuesday that its performance was consistent with achieving its expectations for the year as a whole.

The AIM-listed group said the second half of its financial year so far had seen its recovery and advisory services complete a number of contingent fee engagements and witness higher activity levels.

Begbies' has completed a number of contingent engagements and seen a continuing good flow of insolvency appointments in the third quarter.

The group's property services business also continued to perform well in the third quarter following its acquisition of Croft Transport Planning and Design on 31 January.

Chairman Ric Traynor said: "We have had a busy few months with a good third quarter performance and the completion of recent acquisitions that further develop our core businesses.

"We remain confident that we are on track to achieve our expectations for the year as [a] whole."

As of 0840 GMT, Begbies shares had dipped 0.66% to 60p.