Community Broking Group (CBG), which floated on AIM in November, has announced a 114% rise in pretax profit for 2003 to £305,8786 from £143,151 in 2002..
Profit after tax grew 104% to £214,176, up from £105,020 in 2002.
Turnover jumped 31% to £1.5m, up from £1.1m in 2002, while operating profit increase 73% to £304,745, up from £175,920 in the previous year.
Chairman David Worsley said the company remained committed to its acquisition strategy, but that the board had decided to restrict further acquisitions after 31 March 2004 to allow group consolidation.
CBG said it had made two further acquisitions since the end of the 2003 financial year. It acquired MVA Healthcare on 1 January 2004, and Cloughley Insurance Services on 1 March 2004. CBG said it expected the acquisitions to boost turnover by £370,000 per year.
