BEGBIES Traynor's yesterday announced its revenue had jumped more than a third over the past year, as the business recovery and financial advisory firm continued to scoop up ailing firms.

Executive chairman of the Londonlisted group, which is also a property services consultancy, said a string of acquisitions and a spike in trading had lifted its financials "comfortably ahead" of market expectations.

Shareholders are now eyeing a windfall, after bosses recommended a 17 per cent increase to its dividend for the year, to 3.5p per share.

It marks Begbies' fifth year in a row for dividend growth, which is not expected to slow as the firm forecasts more insolvencies on the horizon thanks to spiralling inflation.

The country's current economic climate leaves the business "well positioned", it said in its full-year results yesterday, which bosses expect to extend beyond 2022.

Chairman Ric Traynor said he was confident the firm would continue its "track record of growth".

Despite the firms' optimism shares closed down 2.88 per cent yesterday.

(c) 2022 City A.M., source Newspaper