Reflecting a decade of excellent revenue growth across increasingly diversified advisory
services, Begbies Traynor  is changing its name to BTG Consulting plc. Under this new name, and with the recently enhanced management team, BTG Consulting is well placed for further profitable growth across its wide range of financial and real estate advisory services. Its latest Red Flag report shows a 44% increase in businesses in “critical” financial distress. Although BTG’s share price has recovered its summer decline, it still trades on less than 10x cal 2027 PER, c. 30% below its long-run average valuation multiples and below our 150p Fair Value.