Begbies Traynor's trading in the first quarter of the current financial year was satisfactory and performance in both divisions was in line with expectations, shareholders at the annual general meeting today will be told.
Executive chairman Ric Traynor will say: "Last year was one of solid progress for the group with growth in both revenue and profits, and completion of the integration of our property services division, Eddisons. We remain well positioned to take advantage of the cyclicality of the insolvency market, where we have maintained our market-leading position by number of appointments, and to develop our property services.
"Our trading in the first quarter of the current financial year was satisfactory. Performance in both divisions was in line with our expectations, despite the continuing challenging levels of market activity.
"The Government insolvency statistics in the most recently reported second quarter of the calendar year showed the number of corporate insolvency appointments was broadly unchanged (3,674 appointments compared to 3,652 in the same period of 2015).
"For the first six months of the calendar year there was a 2% fall in the number of corporate insolvency appointments to 7,514 compared to 7,664 in the same period of 2015.
"Overall, we continue to be confident of the prospects for the group and will look for further opportunities to develop and enhance the business, both organically and through selective acquisitions."