Profits and turnover increase for 13th successive year
R K Harrison Group posted operating profits of £24.4m for the year to 30 June 2012. This is an increase of 19.6% on 2011’s profits of £20.4m after successive years of profit and turnover growth.
Chief executive Paul Bridgwater said: “This is another solid set of results that extends our record of growth to a 13th successive year.”
Turnover was up 21.3% to £92.9m (2011: £76.6), supported by new and expanded businesses in accident and health, cargo and facultative reinsurance, onshore energy and energy liability.
The group also acquired high net worth broker Mercury West Associates in December 2011 to add to its personal lines offering. Further acquisitions included four Gibbs Hartley Cooper businesses from Marsh UK in June 2012.
Bridgwater said the company would continue to grow through acquisitions while still nurturing organic growth.
“We see significant opportunity for future growth by continuing to strike a balance between acquisitions that fit our employee ownership model and organic growth from established teams,” he said.
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