Begbies Traynor has seen revenue rise by 19% to £83.8m over the past year.
The business recovery, financial advisory and property services consultancy said the boost was ahead of expectations and was buoyed by a 25% growth in adjusted profit.
It added that all areas of the business performed well, despite the lockdowns affecting property deals and the various government-imposed moratoriums impacting insolvencies. The firm said it now expects an “increase in market activity levels as government support measures are withdrawn in the second half”.
It has recommended a 7% increase in the annual dividend to 3p per share. Begbies said it had been able to improve its cash base, with £3m in the bank versus £2.8m debt last year.
Executive chair Ric Traynor said: “Over the last four financial years, we have delivered compound annual growth in adjusted earnings per share of 20%, including 10% organic growth. Over the same period we have moved from net debt of £10.3m to net cash of £3m at the year end, whilst making value-enhancing acquisitions and delivering 8% compound growth per annum in dividend per share.”
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