INSOLVENCY specialists Begbies Traynor yesterday upped its dividend after it saw its pretax profit increase by half in 2023.

Pretax profit climbed to £6m from £4m the year before, ahead of market expectations, leading the firm to up its dividend by nine per cent on last year to 3.8p. On an adjusted basis, which excluded the cost of acquisitions made during the year, pretax profit climbed to £20.7m from £17.8m.

The firm said it has started the new year in a "strong position" and has good insolvency revenue, driven by the continued increase in insolvency market volumes.

(c) 2023 City A.M., source Newspaper