Overview

  • UK financial and real estate advisor's revenue rose 10% for the year, slightly beating expectations

  • Adjusted EBITDA and adjusted pretax profit both slightly beat analyst expectations

  • Growth driven by strong restructuring and real estate activity, while transactional advisory lagged

Outlook

  • Company anticipates delivering growth in line with its expectations for the current financial year

  • Macroeconomic uncertainty expected to drive demand for restructuring, impact transactional activity

Result Drivers

  • RESTRUCTURING DEMAND - Increased restructuring activity, including larger and more complex appointments, drove growth and strengthened market position

  • REAL ESTATE GROWTH - Real estate division benefited from higher consultancy, valuations and asset-related service demand, as well as acquisitions

  • WEAK TRANSACTIONAL ADVISORY - Advisory performance was constrained by a challenging transactional market due to macroeconomic conditions, reducing margins

Company press release:

Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

FY Revenue

Slight Beat*

GBP 168.50 mln

GBP 167.82 mln (5 Analysts)

FY Adjusted EBITDA

Beat

GBP 33.30 mln

GBP 32.80 mln (5 Analysts)

FY Adjusted Pretax Profit

Slight Beat*

GBP 25 mln

GBP 24.78 mln (5 Analysts)

FY Pretax Profit

GBP 14.10 mln

*Applies to a deviation of less than 1%; not applicable for per-share numbers.

Analyst Coverage

  • The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 3 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

  • The average consensus recommendation for the business support services peer group is "buy"

  • Wall Street's median 12-month price target for BTG Consulting PLC is GBp160.00, about 36.8% above its July 3 closing price of GBp117.00

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