Begbies falls to a full-year loss

Business rescue group Begbies Traynor swung to a loss in the year to April as its own restructuring expenses ate into its earnings. Revenues at the firm fell just under five per cent to £57.7m and a £5.5m pre-tax profit was more than wiped out by costs from the disposal of its overseas and tax businesses. The firm said it will now focus on its UK insolvency and restructuring operations.