Daily Insurance Industry News
Daily Insurance Industry News
Friday 19th of October 2018
September 30, 2008

Looking on the Brightside, H1 profits up

by David Masters

Story link: Looking on the Brightside, H1 profits up

Brightside has announced its results for the first half of 2008, with turnover and operating profit both increasing on year.

Turnover for the six months ending 30th June 2008 at the insurance broking and financial services business was £15.6 million, up 39% compared to turnover of £11.2 million in the first six months of 2007.

Adjusted operating profit before tax was £2.5 million, a 172% increase on the £0.92 million profit for the same period last year.

Profit attributable to equity holders was £1.73 million, or 0.76 pence per share, up 240% compared to the £0.508 million or 0.30 pence per share for the first six months of 2007.

Brightside CEO Paul Chase-Gardener said the results met the company’s targets for the first half, and that the company is ‘well positioned’ to meet its targets for the full year.

He added that the acquisition of Group Direct is the beginning of an integration of insurance services at the company which will include specialist niche broking and premium financial services to SMEs.


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