Latest news with #BegbiesTraynor
Scotsman
27-05-2025
- Business
- Scotsman
Scottish Clubs continue to battle headwinds with reduced fan spending
Five of the 42 clubs (12%) in Scotland's top four leagues are showing signs of financial distress, up 67% year on year - in the EFL four of the 72 clubs (6%) show signs of distress, two more than 12 months earlier Sign up to our daily newsletter Sign up Thank you for signing up! Did you know with a Digital Subscription to Edinburgh News, you can get unlimited access to the website including our premium content, as well as benefiting from fewer ads, loyalty rewards and much more. Learn More Sorry, there seem to be some issues. Please try again later. Submitting... Football distress across the Scottish Football League is up two thirds year-on-year with pressure concentrated on lower league clubs, according to the latest Begbies Traynor Football Distress Survey. The six-monthly Football Distress Survey (as of 31 March), conducted by business recovery specialist Begbies Traynor since 2012, has again seen five of the 42 clubs (12%) in Scotland's four top leagues showing signs of financial distress. Advertisement Hide Ad Advertisement Hide Ad This is up by 67% year-on-year and steady since the last data was released for the period to October 31st 2024. Ken Pattullo, Begbies Traynor More than half of the clubs in distress in Scotland (3) were in League One and a similar trend was seen in the EFL, with distress shared equally between League One and League Two. Both divisions saw two clubs showing signs of significant financial issues. Ken Pattullo, who leads Begbies Traynor in Scotland and Northern Ireland, said: 'We're concerned that the levels of distress in Scottish clubs seem to be steadying at an unwelcome level, and the last year will be concerning for the coming season. Advertisement Hide Ad Advertisement Hide Ad 'We know that key overheads for clubs, such as wages, National Insurance costs, energy and food and drink products are much higher than a few years ago. The upcoming employment and tax additions to these costs will be on the mind of clubs and they will be looking at ways they can boost existing or build new revenue streams to counter these price increases.' The English Football League saw distress rise by 100% year-on-year, with four of the 72 clubs (6%) in the EFL showing signs of distress, but lower than the six clubs reported six months ago. Ken Pattullo continues: 'In England we're seeing a concentration of distress in the lower two leagues, strengthening calls for a more equitable distribution of the big-ticket TV revenues enjoyed by the Premier League and the Championship. That's likely to be more ammunition for boards in League One and League Two when they meet with the Government's new Football Regulator. 'Club owners and boards in the EFL will have to resist the temptation to get carried away and gamble on chasing Wrexham up the leagues. That is a remarkable success story, and great news for the profile of the club and the game as a whole, but we now need the spotlight to fall on those smaller clubs that don't have these resources. Advertisement Hide Ad Advertisement Hide Ad 'Smaller clubs are a vital part of the football ecosystem and also the communities where they are based, and many could be in trouble in 12 months time if there isn't more support from those with the lion's share of the revenues.'
Scotsman
27-05-2025
- Business
- Scotsman
Scottish Clubs continue to battle headwinds with reduced fan spending
Five of the 42 clubs (12%) in Scotland's top four leagues are showing signs of financial distress, up 67% year on year - in the EFL four of the 72 clubs (6%) show signs of distress, two more than 12 months earlier. Sign up to our daily newsletter – Regular news stories and round-ups from around Scotland direct to your inbox Sign up Thank you for signing up! Did you know with a Digital Subscription to The Scotsman, you can get unlimited access to the website including our premium content, as well as benefiting from fewer ads, loyalty rewards and much more. Learn More Sorry, there seem to be some issues. Please try again later. Submitting... Football distress across the Scottish Football League is up two thirds year-on-year with pressure concentrated on lower league clubs, according to the latest Begbies Traynor Football Distress Survey. The six-monthly Football Distress Survey (as of 31 March), conducted by business recovery specialist Begbies Traynor since 2012, has again seen five of the 42 clubs (12%) in Scotland's four top leagues showing signs of financial distress. Advertisement Hide Ad Advertisement Hide Ad This is up by 67% year-on-year and steady since the last data was released for the period to October 31st 2024. Ken Pattullo, Begbies Traynor More than half of the clubs in distress in Scotland (3) were in League One and a similar trend was seen in the EFL, with distress shared equally between League One and League Two. Both divisions saw two clubs showing signs of significant financial issues. Ken Pattullo, who leads Begbies Traynor in Scotland and Northern Ireland, said: 'We're concerned that the levels of distress in Scottish clubs seem to be steadying at an unwelcome level, and the last year will be concerning for the coming season. Advertisement Hide Ad Advertisement Hide Ad 'We know that key overheads for clubs, such as wages, National Insurance costs, energy and food and drink products are much higher than a few years ago. The upcoming employment and tax additions to these costs will be on the mind of clubs and they will be looking at ways they can boost existing or build new revenue streams to counter these price increases.' The English Football League saw distress rise by 100% year-on-year, with four of the 72 clubs (6%) in the EFL showing signs of distress, but lower than the six clubs reported six months ago. Ken Pattullo continues: 'In England we're seeing a concentration of distress in the lower two leagues, strengthening calls for a more equitable distribution of the big-ticket TV revenues enjoyed by the Premier League and the Championship. That's likely to be more ammunition for boards in League One and League Two when they meet with the Government's new Football Regulator. 'Club owners and boards in the EFL will have to resist the temptation to get carried away and gamble on chasing Wrexham up the leagues. That is a remarkable success story, and great news for the profile of the club and the game as a whole, but we now need the spotlight to fall on those smaller clubs that don't have these resources. Advertisement Hide Ad Advertisement Hide Ad
Yahoo
22-05-2025
- Business
- Yahoo
UK's May 2025 Stock Picks That Might Be Priced Below Intrinsic Value
As the United Kingdom's FTSE 100 index experiences downward pressure due to weak trade data from China and falling commodity prices, investors are closely watching for opportunities that might be priced below their intrinsic value. In this environment, identifying stocks that are undervalued can offer potential for growth, especially those with strong fundamentals and resilience amid global economic challenges. Name Current Price Fair Value (Est) Discount (Est) Begbies Traynor Group (AIM:BEG) £0.964 £1.66 42% Savills (LSE:SVS) £9.70 £16.51 41.2% Aptitude Software Group (LSE:APTD) £2.88 £5.12 43.7% Victrex (LSE:VCT) £7.84 £15.41 49.1% Informa (LSE:INF) £8.098 £15.19 46.7% SDI Group (AIM:SDI) £0.746 £1.37 45.7% Duke Capital (AIM:DUKE) £0.2875 £0.53 45.4% Vistry Group (LSE:VTY) £6.02 £11.26 46.5% Entain (LSE:ENT) £7.50 £13.78 45.6% Deliveroo (LSE:ROO) £1.751 £3.04 42.5% Click here to see the full list of 49 stocks from our Undervalued UK Stocks Based On Cash Flows screener. Let's explore several standout options from the results in the screener. Overview: NewRiver REIT plc is a prominent UK Real Estate Investment Trust focused on acquiring, managing, and developing durable retail properties, with a market cap of £361.83 million. Operations: NewRiver REIT plc generates its revenue primarily through the acquisition, management, and development of robust retail properties across the UK. Estimated Discount To Fair Value: 32.8% NewRiver REIT is trading at £0.76, significantly below its estimated fair value of £1.13, reflecting a potential undervaluation based on cash flows. Despite recent shareholder dilution and unsustainable dividend coverage by free cash flows, the company shows promising growth prospects with earnings expected to grow at 48.15% annually, outpacing the UK market's average growth rate. Recent strategic partnerships and retail expansions may enhance revenue streams and bolster its financial position further. Our earnings growth report unveils the potential for significant increases in NewRiver REIT's future results. Navigate through the intricacies of NewRiver REIT with our comprehensive financial health report here. Overview: On the Beach Group plc is an online retailer specializing in short haul beach holidays under the On the Beach brand in the United Kingdom, with a market cap of £406.05 million. Operations: The company generates revenue primarily through its online platform, offering short haul beach holiday packages to customers in the United Kingdom. Estimated Discount To Fair Value: 31.4% On the Beach Group is trading at £2.60, significantly below its estimated fair value of £3.78, indicating a potential undervaluation based on cash flows. Recent earnings results show net income rising to £3 million from £0.5 million year-on-year, with revenue growth forecasted at 10.9% annually, surpassing the UK market average of 3.7%. Analysts expect earnings to grow significantly at 24.5% per year, further supporting its undervaluation thesis despite a modest return on equity forecast of 17.7%. Our expertly prepared growth report on On the Beach Group implies its future financial outlook may be stronger than recent results. Unlock comprehensive insights into our analysis of On the Beach Group stock in this financial health report. Overview: Victrex plc, with a market cap of £681.89 million, is involved in the global manufacture and sale of polymer solutions through its subsidiaries. Operations: Victrex's revenue segments include Industrial, generating £162.6 million, and Medical, contributing £53.9 million. Estimated Discount To Fair Value: 49.1% Victrex is trading at £7.84, considerably below its estimated fair value of £15.41, reflecting potential undervaluation based on cash flows. Recent earnings show a substantial rise in net income to £15.2 million from £2.7 million year-on-year, while revenue is forecasted to grow 4.8% annually, outpacing the UK market average of 3.7%. Although the dividend coverage is weak and return on equity projections are modest at 15.4%, earnings growth remains strong at 25.8% per year. Our comprehensive growth report raises the possibility that Victrex is poised for substantial financial growth. Click here to discover the nuances of Victrex with our detailed financial health report. Dive into all 49 of the Undervalued UK Stocks Based On Cash Flows we have identified here. Are these companies part of your investment strategy? Use Simply Wall St to consolidate your holdings into a portfolio and gain insights with our comprehensive analysis tools. Simply Wall St is a revolutionary app designed for long-term stock investors, it's free and covers every market in the world. Explore high-performing small cap companies that haven't yet garnered significant analyst attention. Diversify your portfolio with solid dividend payers offering reliable income streams to weather potential market turbulence. Fuel your portfolio with companies showing strong growth potential, backed by optimistic outlooks both from analysts and management. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Companies discussed in this article include LSE:NRR LSE:OTB and LSE:VCT. This article was originally published by Simply Wall St. Have feedback on this article? Concerned about the content? with us directly. Alternatively, email editorial-team@ Sign in to access your portfolio
Yahoo
19-05-2025
- Business
- Yahoo
Top 3 UK Dividend Stocks For Your Portfolio
As the FTSE 100 index experiences fluctuations due to weak trade data from China and global economic pressures, UK investors are closely monitoring the market's response. In such uncertain times, dividend stocks can offer a measure of stability and income potential, making them an attractive consideration for those looking to navigate these challenging conditions. Name Dividend Yield Dividend Rating WPP (LSE:WPP) 6.60% ★★★★★★ Man Group (LSE:EMG) 7.49% ★★★★★☆ 4imprint Group (LSE:FOUR) 5.12% ★★★★★☆ Keller Group (LSE:KLR) 3.18% ★★★★★☆ Treatt (LSE:TET) 3.27% ★★★★★☆ NWF Group (AIM:NWF) 5.00% ★★★★★☆ Big Yellow Group (LSE:BYG) 4.41% ★★★★★☆ OSB Group (LSE:OSB) 7.00% ★★★★★☆ James Latham (AIM:LTHM) 6.87% ★★★★★☆ Grafton Group (LSE:GFTU) 3.67% ★★★★★☆ Click here to see the full list of 60 stocks from our Top UK Dividend Stocks screener. Let's review some notable picks from our screened stocks. Simply Wall St Dividend Rating: ★★★★☆☆ Overview: Begbies Traynor Group plc offers professional services to businesses, advisors, large corporations, and financial institutions in the UK with a market cap of £152.20 million. Operations: Begbies Traynor Group plc generates revenue through its Property Advisory segment (£44.96 million) and Business Recovery and Advisory segment (£102.18 million) in the United Kingdom. Dividend Yield: 4.3% Begbies Traynor Group's dividend payments, though reliable and growing over the past decade, are not well covered by earnings due to a high payout ratio of 265.4%. However, with a cash payout ratio of 72.7%, dividends are supported by cash flows. Despite trading at a significant discount to estimated fair value, the dividend yield of 4.3% is lower than the top UK payers. Earnings have shown substantial growth recently but include large one-off items affecting quality. Take a closer look at Begbies Traynor Group's potential here in our dividend report. Our valuation report unveils the possibility Begbies Traynor Group's shares may be trading at a discount. Simply Wall St Dividend Rating: ★★★★☆☆ Overview: Johnson Matthey Plc operates in clean air, catalyst and hydrogen technology, and platinum group metals services across various regions including the UK, Europe, North America, and Asia with a market cap of £2.27 billion. Operations: Johnson Matthey Plc's revenue segments include Clean Air (£4.47 billion), PGM Services (£8.36 billion), Value Businesses (£224 million), Catalyst Technologies (£689 million), and Hydrogen Technologies (£65 million). Dividend Yield: 5.7% Johnson Matthey's dividend yield of 5.68% ranks among the top UK payers, yet its sustainability is questionable due to a lack of free cash flows and unreliable past payments. Despite a low payout ratio of 26.6%, earnings are insufficient to cover dividends, with forecasts indicating a decline in profitability by an average of 28.4% annually over three years. The stock trades at a significant discount to fair value but faces challenges from volatile earnings impacted by large one-off items. Navigate through the intricacies of Johnson Matthey with our comprehensive dividend report here. Our expertly prepared valuation report Johnson Matthey implies its share price may be lower than expected. Simply Wall St Dividend Rating: ★★★★☆☆ Overview: Ninety One Group is an independent global asset manager with operations worldwide and a market cap of £1.40 billion. Operations: Ninety One Group generates revenue primarily through its Investment Management Business, which reported £584.50 million. Dividend Yield: 7.4% Ninety One Group offers a high dividend yield of 7.38%, placing it in the top quartile of UK dividend payers. The company's dividends are well-covered by earnings and cash flows, with payout ratios of 67.9% and 54.9%, respectively, indicating sustainability despite only five years of payments without growth. Trading below fair value enhances its appeal, while a £30 million share buyback plan could support shareholder value but does not address the lack of dividend growth history. Click here to discover the nuances of Ninety One Group with our detailed analytical dividend report. According our valuation report, there's an indication that Ninety One Group's share price might be on the cheaper side. Investigate our full lineup of 60 Top UK Dividend Stocks right here. Shareholder in one or more of these companies? Ensure you're never caught off-guard by adding your portfolio in Simply Wall St for timely alerts on significant stock developments. Invest smarter with the free Simply Wall St app providing detailed insights into every stock market around the globe. Explore high-performing small cap companies that haven't yet garnered significant analyst attention. Fuel your portfolio with companies showing strong growth potential, backed by optimistic outlooks both from analysts and management. Find companies with promising cash flow potential yet trading below their fair value. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Companies discussed in this article include AIM:BEG LSE:JMAT and LSE:N91. This article was originally published by Simply Wall St. Have feedback on this article? Concerned about the content? with us directly. Alternatively, email editorial-team@ Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Scottish Sun
15-05-2025
- Business
- Scottish Sun
‘Red flag' alert as 45,000 businesses across UK on brink of COLLAPSE, shows worrying report after tariff & tax hikes
The report highlights the perilous situation for UK high streets RISKY BUSINESS 'Red flag' alert as 45,000 businesses across UK on brink of COLLAPSE, shows worrying report after tariff & tax hikes TENS of thousands of businesses across the UK are on the brink of collapse a worrying report reveals. Shocking new findings reveal how businesses are struggling as the economy heads toward major tariff and tax hikes. Advertisement 1 Over 45,000 businesses are on the brink Credit: Alamy The 'Red Flag Alert' report from Begbies Traynor has provided a snapshot of British corporate health for nearly two decades. As of 31 March this year, 45,416 businesses were found to be in "critical" financial distress. This is a 13.1 per cent rise versus Q1 2024, despite a 3.1 per cent fall during the first quarter of 2025. In the context of business finances, "critical distress" represents a severely negative financial situation where insolvency is highly likely in the near future. Advertisement Red Flag Alert monitors 22 sectors, nearly two-thirds of which experienced a double-digit percentage increase of companies in 'critical' financial distress in the last 12 months. The high street is bearing the brunt of the crisis as the picture is most concerning in the UK's consumer-facing economy. The number of businesses in distress skyrocketed across Bars and Restaurants, with an increase of 31.2 per cent, and Travel and Tourism which saw a 25.5 per cent increase. The General Retailers sector also saw a rise of 12.4% per cent. Advertisement But more importantly, the Real Estate & Property Services, Construction, and General Retailers sectors, which comprise the three bellwether sectors in the UK, represented more than a third of companies in 'critical' financial distress. This represents over 16,000 companies, highlighting the perilous situation for the UK economy. The levels of "significant" distress also rose by 4.5 per cent in the last twelve months despite a 11.5 per cent decrease during the first quarter of this year. The Hotels and Accommodation, Real Estate and Property Services and Leisure and Cultural Activities sectors saw the highest increase in "significant" distress since the first quarter of 2024. Advertisement But it's the Support Services, Construction, and Real Estate and Property Services sectors where this "significant" distress is most pronounced affecting over 241,000 companies. Ric Traynor, Executive Chairman of Begbies Traynor, said: "After a year characterised by weakening consumer confidence and the spectre of a higher tax burden, 2025 looks like will offer more challenges." Which retailers went bust in 2024? DURING 2024, 27 retailers of all sizes went bust, affecting 886 shops and 17,939 employees, according to the Centre for Retail Research. The number of casualties is more than half the previous year's rate of retail collapses, when 61 chains failed and 971 shops were impacted. Here, we explain some of the biggest retailers that got into trouble in 2024... Sook Sook was one of the first retail casualties of 2024 and was particularly depressing as it was meant to be the answer to empty high street stores. The business operated 12 pop-up shops across the country in London, Birmingham, Southampton, Liverpool, Newcastle and Leeds and made high street space available for online brands like TikTok. Tile Choice Tile Choice, a Midlands-based flooring retailer with 18 shops, went into administration in January 2024. Nine stores were snapped up by rival Tile Giant but the rest were not saved. The business had 116 staff and £16million turnover in the last financial year, but had struggled with a slowdown in spending. LloydsPharmacy LloydsPharmacy, once the UK's second biggest community pharmacy chain, went into liquidation in late January with debts of £293million. The previous year it had closed all of its pharmacies inside Sainsbury's and divided its 1,000 pharmacy estate into packages of hundreds of stores that it then sold to rivals in smaller deals. There are no more LloydsPharmacy-branded sites on the high street, but it continues to operate online. The Body Shop The Body Shop filed for shock administration in February, just four months after being taken over by restructuring firm Aurelius. Administrators immediately closed 75 of its 198 UK stores and made cuts to its head office while its international divisions were also declared bankrupt. It took seven months for a rescue to be sealed with British cosmetics tycoon Mike Jatania in a deal that has kept 113 shops trading. Matches Fashion Matches Fashion, the designer clothing online retailer, was put into administration in March, less than three months after it was bought by Mike Ashley's Frasers Group. Frasers Group bought the business for £52million but said it was too heavily loss-making to turn around and closed it down. The firm was founded 30 years ago by husband and wife team Tom and Ruth Chapman, who made £400million when selling the business to private equity firm Apax in 2017. Ted Baker Designer clothing and accessories brand Ted Baker initially filed for administration in April after the company that ran the brand in the UK also went bust. At the time, Ted Baker had 46 shops in the UK employing around 975 people. The business had been taken private by US firm Authentic Brands Group in a £211million deal. The last stores shut in August after failing to secure a full rescue. It was relaunched as an online brand in the UK and Europe after a partnership with United Legwear & Apparel Co. Muji Japanese brand Muji, which had six stores in the UK including five in London's busiest shopping streets, went into administration at the end of March. The retailer had been popular with shoppers who liked its minimalistic stationery and homewares. It was saved after a rescue deal with its parent company. Carpetright Flooring retailer Carpetright filed for administration in July after efforts to turnaround the struggling firm were derailed by a cyber attack. The business had 1,800 staff and 273 shops across the country before going bust. Around 54 stores were snapped up by its arch-rival Tapi Carpets & Floors, which also bought its brand name and continues to run the brand online. The Floor Room The Floor Room was owned by the same parent company behind Carpetright, Nestware Holdings. The business traded out of 34 John Lewis concessions and employed 201 people. The firm also relied on Carpetright for a number of its essential customer support services and could not survive on its own. Homebase DIY chain Homebase collapsed in November after years of struggles. The business had around 130 shops across the UK and had been owned by restructuring firm Hilco, which bought the business for a single £1 in 2018. Australia's Wesfarmers had briefly owned Homebase in a disastrous attempt to break into the UK market. Westfarmers bought Homebase in 2016 after Sainsbury's £1 billion purchase of Argos triggered a break-up of Home Retail Group. The brand and some stores have been partially rescued by billionaire Chris Dawson, the owner of The Range and Wilko. While the number of businesses in critical distress did fall in the first quarter of this year, Traynor said this could be the "calm before the storm" ahead of the uncertainty around US tariffs. He added: "Additionally, the recent increases to both employers' national insurance contributions and the national minimum wage is likely to result in increased distress levels later in the year as many marginal businesses struggle to absorb further cost inflation. Advertisement "Ultimately, if the current pressures on businesses do not ease over the next 12 months, Red Flag Alert's data points to a large number of these critically distressed businesses progressing towards formal insolvency." Partner at Begbies Traynor, Julie Palmer, admitted that "optimism remains in short supply for UK businesses". Palmer acknowledged the consumer-facing sectors of the economy were "clearly continuing to struggle" as they operate on notoriously tight margins. However, she added there is a "small window of opportunity for business leaders who stand at the crossroads and must decide which path to take". Advertisement She said: "Restructuring, refinancing, selling or closing will be options many will have to decide between, so navigating towards the right outcome will be the target for 2025. "Sadly, I fear there will be many potholes that cannot be avoided later this year which will prove too much for some."
