BTG Consulting (AIM:BTG) lifted full-year revenue 10% to £168.5m for the year ended 30 April, exceeding the upper end of its previously stated range of market expectations, as strong restructuring and real estate activity offset weakness in transactional advisory.
Adjusted profit before tax rose 6% to £25m, while statutory profit before tax climbed 23% to £14.1m, the sharper statutory gain reflecting lower non-underlying items.
Adjusted EBITDA increased 5% to £33.3m, with margins edging back to 19.8% from 20.6% a year earlier, as investment in senior hires and softer transactional volumes weighed on conversion.
The restructuring and advisory division, the larger of the group's two segments, grew segmental revenue 9% to £116.8m, with the group retaining its ranking as the UK's highest-volume corporate appointment firm.
Free cash flow fell to £14.1m from £19.4m, reflecting year-on-year working capital movements in restructuring and the normalisation of tax payments.
"With an enhanced platform, a highly experienced team and an encouraging pipeline of acquisition opportunities, we are well positioned to deliver further progress towards our £200m medium-term revenue target," said Chief Executive Mark Fry, appointed to the role in September 2025.
BTG, which completed its rebrand from Begbies Traynor Group during the year, said it started the new financial year with encouraging activity levels and expects to deliver growth in line with its own expectations.
