Begbies Traynor stated that the firm has experienced ‘strong growth with results ahead of original targets’ due to acquisitions and improved trading. The top 20 accountancy firm states that 6% of the growth was organic and 13% of it was acquired for year end 31 April 2021.

Adjusted profit before tax was £11.5m, consisting of profit before tax of 1.9m (2020: £2.9m) plus transaction costs at £6.5m (2020: £3.2m), which is significantly up on the previous year, with amortisation of intangible assets arising on acquisitions was £3.1m remaining the same as 2020. The firm has resolved its Net Cash debt over last 12 months and now has a £3m cash surplus.

The firm said that its business recovery and financial advisory had a strong organic performance against a challenging insolvency market backdrop and had good returns from acquisitions while the  property advisory and transactional services also had a strong finish to the year with recovery in activity levels after the lockdown impacted service lines.