Daily Insurance Industry News
Daily Insurance Industry News
Monday 24th of September 2018
June 24, 2010

THB Group reports strong six months

by Richard Kilner

Story link: THB Group reports strong six months

Specialist insurance and reinsurance broker THB Group plc has released its interim (unaudited) results for the six months to 30 April 2010.

Fees and commissions were up by 5%, with broking profit increased by more than a fifth, up 21%.

The surge in broking profit marks a continuation of the pattern established recently, following the results released in January when the firm saw broking profit up 43%.

Earnings per share increased even more than broking profit, rising by 31%, with the interim dividend up 8%.

Fees and commissions were supported by the strong US dollar, coupled with good organic growth by the firm.

THB has also emphasised efficiency during the period concerned, with costs kept tightly controlled and plans for future efficiencies to be delivered via system changes.

Group Chief Executive Officer Frank Murphy described the half-year as constructive for the firm, adding that he was encouraged by the very positive results that had been achieved.


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