Begbies Traynor said it was on track for double digit growth as it cashes in on the economic instability.
The corporate restructuring firm said in a trading update that it expects revenue to climb 12 per cent to £58.5m, with adjusted profit before tax also up 13 per cent to £9m.
Begbies Traynor said insolvency appointments increased in the half year, including a number of larger, mid-market insolvency and restructuring cases. It said this was driven by increased activity in administrations and expanded London office and offshore practice.
“We have performed well in the first half with double digit growth and strong performances in both divisions,” Executive chairman for the firm Ric Traynor said.
“As corporate financial distress levels rise in a deteriorating economic environment, we anticipate continued momentum in activity levels in insolvency and restructuring and we are better placed than ever to take advantage of this with our expanded presence and enhanced service offering.
He said the London-listed firm remain confident of delivering market expectations for the full year.
The group will report its half year results for the six months ended 31 October 2022 on 13 December.