Begbies Traynor raises interim dividend on 'confidence' in outlook; profit slumps in H1

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Business recovery specialist Begbies Traynor raised its interim dividend, citing 'confidence' in its outlook for the current and future years. The company also reported a slump in first-half profit on higher costs.

For the six months ended 31 October 2020, pre-tax profit fell to £0.5 million year-on-year as revenue rose 11% to £37.5 million.

Profit included amortisation of intangible assets arising on acquisitions of £1.5m, up from £1.4m, and transaction costs of £3.1m, up from £0.7m).

The company raised its interim dividend by 11% to 1 penny a share.

'With the benefit of our strong financial position we continue to look for opportunities to develop and enhance the group, both organically and through selective acquisitions, and we remain confident in our outlook for the current and future years,' the company said.

At 8:34am: (LON:BEG) Begbies Traynor Group PLC share price was 0p at 86p


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