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Highlights
- Begbies Traynor Group is an FTSE AIM All-Share index listed firm headquartered in the United Kingdom.
- During H1 FY23, Begbies' interim dividend per share registered ~9.1% YoY growth.
- The stock is trading below the average of 52-week high price of GBX 1,478.00 and 52-week low price of GBX 910.00.
Headquartered in the United Kingdom, Begbies Traynor Group PLC (LSE:BEG) is an FTSE AIM All-Share index listed firm involved in financial advisory, business recovery, and property services consultancy. The firm has its operations segmented into diverse categories, such as insolvency, restructuring and property.
During the first half of the fiscal year 2023 (H1 FY23), Begbies posted around 12% year-on-year (YoY) revenue growth and 13% YoY surge in adjusted profit before tax. In the past six months, the company’s order book has increased by 15% to £33.9 million for its business recovery division. Furthermore, the company's interim dividend per share witnessed approximately 9.1% YoY growth during H1 FY23.
Also, the firm recently completed the acquisition of Banks Long & Co team for an initial consideration of £1.5 million, which will be divided as £1.125 million payable in cash and remaining via the issue of 292,170 new ordinary shares. As per the company, this addition in the portfolio will embolden the company's current offering as well as its footprint in Eastern England and South Yorkshire.
Defining the path forward
Begbies believes that it will be able to secure double-digit growth in revenue and adjusted PBT during FY23, with 11% growth in revenue to £122 million and 16% surge in adjusted PBT to £20.7 million.
As per the firm, it holds good headroom in facilities to support organic investment as well as acquisition opportunities. The company is of the opinion that its recent insolvency appointments, together with the anticipated growth in the insolvency market, will benefit the insolvency team. Overall, the firm is focused to clutch growth opportunities to boost its advisory and property teams.
Top 10 Shareholders
The top 10 shareholders collectively form ~50.71% of the total shareholdings. Traynor (Richard William) holds the maximum number of shares with ~17.55% shareholding, followed by Close Brothers Asset Management with ~6.66% shareholding, as depicted in the chart below.
Stock Price Performance
The stock has witnessed a growth of ~5.2% in the last one month and over the last 6 months, it has decreased by ~9.47%. The stock has a 52-week low and 52-week high of GBX 115.50 & GBX 156.00, respectively and is currently trading below the average of 52-week high-low.
Data Source: EODHD/Others, Analysis done by Kalkine Group
Please note markets are trading in a highly volatile zone currently due to certain macro-economic and geopolitical tensions prevailing. Therefore, it is prudent to follow a cautious approach while investing.
Note 1: Past performance is not a reliable indicator of future performance.
Note 2: The reference data for all price data, currency, technical indicators, support, and resistance levels is 27 June 2023. The reference data in this report has been partly sourced from EODHD/Others.
