Investment accounts
Adult accounts
Child accounts
Choosing Fidelity
Choosing Fidelity
Why invest with us Current offers Fees and charges Open an account Transfer investments
Financial advice & support
Fidelity’s Services
Fidelity’s Services
Financial advice Retirement Wealth Management Investor Centre (London) Bereavement
Guidance and tools
Guidance and tools
Choosing investments Choosing accounts ISA calculator Retirement calculators
Share dealing
Choose your shares
Tools and information
Tools and information
Share prices and markets Chart and compare shares Stock market news Shareholder perks IPOs and placings
Pensions & retirement
Pensions, tax & tools
Saving for retirement
Approaching / In retirement
Approaching / In retirement
Speak to a specialist Creating a retirement plan Taking tax-free cash Pension drawdown Annuities Investing in retirement Investment Pathways
Begbies Traynor maintains expectations, signs new debt facility
(Sharecast News) - Professional services consultancy Begbies Traynor said in a trading update on Monday that it maintained consistency with expectations in the third quarter, with both divisions trading in accordance with the outlook it provided at its half-year results in December. The AIM-traded firm said that as a result, the overall outlook for the financial year remained unchanged.
It noted that analyst forecasts currently ranged between £131.1m and £135.2m for revenue, and between £21.9m and £22.5m for adjusted profit before tax.
Begbies Traynor also announced a new debt facility, having finalised an agreement with HSBC to replace the existing facility established in 2016 and originally set to mature in August 2025.
The key terms of the new facility included a £25m committed, unsecured revolving credit facility, maintaining the previous level, along with an increased accordion facility of £10m, up from £5m, enabling additional debt capacity to support the group's growth strategy under specific conditions.
Begbies Traynor said the overall costs of the facility were broadly consistent with those of the previous one.
Initially set for a three-year term until February 2027, the agreement included two one-year extension options, potentially extending the maturity date to February 2029.
"We have continued to perform well across the group and our outlook for the full year remains unchanged, which will extend our strong financial track record of growth," said executive chairman Ric Traynor.
"We are pleased to have agreed a new debt facility with HSBC which, alongside the group's cash generation, provides us with the flexibility to complement our organic growth with selective acquisitions.
"This will enable us to both build on our decade-long track record of growth and execute our strategy to extend our scale and range of services."
At 0919 GMT, shares in Begbies Traynor Group were up 0.79% at 110.36p.
Reporting by Josh White for Sharecast.com.
Share this article
Related Sharecast Articles
Important information: This information is not a personal recommendation for any particular investment. If you are unsure about the suitability of an investment you should speak to one of Fidelity’s advisers or an authorised financial adviser of your choice. When you are thinking about investing in shares, it’s generally a good idea to consider holding them alongside other investments in a diversified portfolio of assets. Past performance is not a reliable indicator of future returns.
Award-winning online share dealing
Search, compare and select from thousands of shares.
Expert insights into investing your money
Our team of experts explore the world of share dealing.
Policies and important information
Accessibility | Conflicts of interest statement | Consumer Duty Target Market | Consumer Duty Value Assessment Statement | Cookie policy | Diversity and Inclusion | Doing Business with Fidelity | Fidelity gender pay report | Investing in Fidelity funds | Legal information | Modern slavery | Mutual respect policy | Privacy statement | Remuneration policy | Security | Statutory and Regulatory disclosures | Whistleblowing policy
Please remember that past performance is not necessarily a guide to future performance, the performance of investments is not guaranteed, and the value of your investments can go down as well as up, so you may get back less than you invest. When investments have particular tax features, these will depend on your personal circumstances and tax rules may change in the future. This website does not contain any personal recommendations for a particular course of action, service or product. You should regularly review your investment objectives and choices and, if you are unsure whether an investment is suitable for you, you should contact an authorised financial adviser. Before opening an account, please read the ‘Doing Business with Fidelity’ document which incorporates our client terms. Prior to investing into a fund, please read the relevant key information document which contains important information about the fund.
This website is issued by Financial Administration Services Limited, which is authorised and regulated by the Financial Conduct Authority (FCA) (FCA Register number 122169) and registered in England and Wales under company number 1629709 whose registered address is Beech Gate, Millfield Lane, Lower Kingswood, Tadworth, Surrey, KT20 6RP.