Insolvency fall hits profits at Begbies

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Profits at listed insolvency specialist Begbies Traynor halved in the past year as the number of UK companies being wound up has dropped.

Begbies, which claims to be the UK's top insolvency specialist, said pre-tax profit for the year to April 30 2013 was £2.4m compared to £5.5m a year earlier. Turnover dropped 11% to £51.1m.

Ric Traynor, Begbies' chairman, said his priority has been to...

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How very satisfying ...

That a company which profits from others problems has encountered issues of it's own because fewer of it's potential clients are going bust

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