Cooper Gay has posted an operating profit of £9m for 2005. This represents an increase of 5.9% on the previous year's results.
The Lloyd's insurance and reinsurance broker secured a 12% increase in turnover to £58.4m and its earnings before interest, tax, depreciation and amortisation were up 4.8% to £10.9m.
Cooper Gay's chief executive, Toby Esser, said: “At a time of difficult trading conditions for the insurance broking industry, the group's operations have performed exceptionally well. Cooper Gay's turnover and profits are at record highs and reflect the ability of our people to operate in challenging markets and also the increasing attractiveness of our brand to insurance and reinsurance buyers.”
However, Esser warned that investments in future growth were likely to affect the company's results for 2006.
