Insolvency business strong at Begbies

2nd Oct 2009 08:16

The recession continues to provide a steady stream of business for insolvency expert Begbies Traynor, which has started the current financial year well.Executive chairman Ric Traynor said current trading is in line with management expectations, with the insolvency division putting in a strong performance.‘The group's core business of insolvency administration, which accounts for over 80% of group turnover, is continuing its good progress and is trading significantly ahead of the same period last year,’ Traynor said.In contrast, the rest of the group is, as anticipated, experiencing less favourable trading conditions.Group cash flows are on budget and the company continues to enjoy significant headroom in its banking facilities.