The AIM-listed insolvency firm saw its revenue climb by 12% to £153.7m, marking its tenth consecutive year of profit growth. Executive chairman Ric Traynor attributed the strong performance to “strong levels of organic growth delivered across our broad range of advisory services”.

The firm’s business recovery division, which constitutes over half of its total revenue, handled several high-profile insolvency appointments, including Speciality Steels and major KFC franchisee Caskade. Despite a slight decrease in the overall number of corporate insolvencies nationwide, from 25,408 to 23,969, Begbies Traynor noted that volumes remain high by historical standards and involve more substantial cases. Revenue in this core division climbed by 5% to £83.7m, bolstered by the acquisition of firms such as White Maund and West Advisory.

The company’s advisory division experienced even more dramatic growth, with revenue surging by 40% to £23.6m, driven by a strong demand for restructuring work and an increase in M&A activity.

Shareholders are set to benefit from an 8% increase in the annual dividend to 4.3p per share, marking the eighth consecutive year of rises. The company has also launched a new share buyback programme.

Looking ahead, Mr Traynor expressed confidence: “Activity levels are encouraging, with positive momentum across the group.

“We expect revenue to be at the upper end of market expectations and another year of profit growth in line with guidance, as we continue to scale and invest in the business.”