Prices and volumes rise. Revenue up 24%, profit up 33%

Brightside has reported H1 policy sales grew by 20.1% leading to a 24% rise in revenue and pre-tax profit up 33% from £3m to £4m.

It said Quota Marketing increased the number of leads generated by 49% to 92,430 and that funding availability for premium finance increased by 333% to £26m.

But it also said: “Trading in our core insurance markets has been buoyant as motor insurance rates have surged in the 2nd quarter of 2010 with year on year increases exceeding 20%. We expect further upward rate pressure to occur in the second half of the year.”

H1 highlights (2009 in brackets)

  • Revenue £26.6m (£21.4m)
  • Pre-tax profit £4.0m (£3.0m)
  • Net profit margin 10.3% (9.7%)

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