CBG sees profits surge by 17.5%
Mancunian insurance broker and financial services firm CBG Group plc has announced its full year results for 2008.
Revenue soared by almost half (49.9%) to hit £11.1m and adjusted pre-tax profits were up by 17.5% to £2.2m, up from £1.9m the previous year.
Over the course of 2008 both Barclay Brown and EDN were acquired and also fully integrated with the business.
CBG also moved its headquarters, locating its 100 head office staff at Southmoor House.
The move not only enhanced cross-selling opportunities but has also reduced costs.
Chairman Laurie Turnbull has expressed his pleasure at the strong financial results, particularly given the difficult economic circumstances the country now finds itself in.
For the last six years CBG has grown, through a combination of acquisitions and organic expansion.
Category: Financials, Insurance News
Visited 1256 times, 3 so far today
Comments (0)
Trackback URL | Comments RSS Feed
There are no comments yet. Why not be the first to speak your mind.