Run off boss remains optimistic
Run off specilaist Randall & Quilter posted a profit before tax of £8.8m (2007: £7.0m) for the year ending 31 December 2008.
However, its profit after tax declined to £6m (£8.1m). Net assets increased 8% to £80.9m (2007: £74.7m).
Ken Randall, chairman and chief executive officer of Randall & Quilter, said: “This is an excellent set of results demonstrating the strength of our business model which has produced growth despite unprecedented turbulence in the capital markets. Each of our three trading divisions has performed well, generating combined operating profits of £12.7m, up by 26% on 2007. I expect to report further expansion in all areas in 2009.”
