BTG Consulting on track to hit forecasts after solid Q3

(Sharecast News) - BTG Consulting, the financial and real estate advisory firm formally known as Begbies Traynor Group, said it still expects to hit market forecasts with its annual results, with improving demand across the restructuring and advisory divisions.

In an update covering the third quarter ended 31 January, the firm said that its financial performance has been in line with expectations, keeping it on track to hit company-compiled consensus forecasts for the full year.

Analysts currently expect an adjusted pre-tax profit of �23.7m-�25.4m, with the midpoint at �24.3m, up from �23.5m the previous year.

"Financial performance has been consistent with our expectations and our outlook for the full year remains unchanged, which will extend our track record of profitable growth," said chief executive Mark Fry.

Restructuring work has been helped by "positive levels" of new instructions, partly driven by the tough trading environment for many firms, while the financial advisory team has benefitted from an increase in completed transactions compared with the first half.

Meanwhile, the real estate advisory division is trading in line with expectations, with recent acquisitions of Kirkby Diamond and Network Auctions performing as expected, BTG said.

"During the period, we completed our rebrand and name change, bringing our market-leading financial and real estate advisory businesses together under common branding. This change reflects the evolution of the group in recent years into a broad-based advisory business."

The stock was down 0.4% at 117.51p by 0946 GMT.