Randall & Quilter reports full year profit
Run-off specialist Randall & Quilter today posted its full year results for 2008 with pre-tax profit up 26% to £8.8 million.
All of the company’s three divisions – Insurance Services, Insurance Company, and Liquidity Management – traded profitably for the year.
Net assets increased 8% from £74.7 million to £80.9 million.
Operating profit increased slightly to £8.8 million, up from £8.7 million.
Profit after tax, however, dropped 26% to £6 million.
Ken Randall, chairman and chief executive officer, said it was ‘an excellent set of results’ and praised the company’s business model, ‘which has produced growth despite unprecedented turbulence in the capital markets’.
He added that he expects to report expansion in all areas during 2009.
Total dividend for 2008 will be paid at seven pence per share.
The company employs 215 staff in its offices in the UK and the US.
Category: Insurance News
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