Begbies Traynor shares rise despite reporting £5.7m year-end loss

Shares in AIM-listed accountancy firm Begbies Traynor rose last month despite revealing a loss after tax of £5.7m for the year to April 2012. From a low of 26.6 on 8 June, the group’s share price had risen to 32.25 a week after releasing its year-end results. However, the share price has consistently drifted downwards from a peak of 194.5 in August 2008, as an anticipated increase in insolvency work has failed to materialise despite the ongoing financial crisis. Revenue at the corporate recovery specialist fell from £60.6m in 2011 to £57.7m in 2012.

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