Hyperion has released its results for the twelve months ending 30 September 2006. Bolstered by the opening of nine new offices in five countries, the group announced increases of 24% in turnover and 37% in operating profits.
Highlights include:
• Group revenues grew from £27.4m to £34.1m, an increase of 24%
• Operating profits increased by 37% from £4.3m to £5.9m
• DUAL International, the Group's underwriting agency, increased revenues by 69% from £7.1m to £12m
• The Howden broking operations reported a 7% increase in revenues against a backdrop of falling premiums and a weakened US Dollar
• The Group's other underwriting agency, CFC Underwriting, reported increases in revenue and profit of 21% and 23% respectively
Hyperion's chief executive, David Howden, commented: “In the 12 years since the Group was established, income has risen at an average annual rate of 37%, whilst profit before tax has risen by an even more impressive average annual rate of 57%. Our success reflects the strength of the structure we put in place nine years ago when we restructured the Group, creating a broking arm and an underwriting arm. Our ability to enter new markets either as a wholesale or retail broker, or as an underwriter, gives us a significant competitive advantage – one that we use to the full and which enables us to continually outperform our competitors.”
