THB Group, the UK-based broker group, has reported a 25% rise in...
THB Group, the UK-based broker group, has reported a 47% increase in profit before tax to £3.3m. (2005: £2.2 million)
The company reported a 25% rise in operating profit to £3.8m for the financial year ended 30 April 2006 (2005: £3.1m) and said turnover was up 5% to £34.1m (2005: £32.4m)
The company also said it is currently in talks to buy a business to extend its capability in professional risks insurance with a particular focus on financial institutions.
Vic Thompson, Group chief executive, said: “THB has performed well in the midst of turbulent insurance markets.
"I believe these results prove that we're well placed for continued growth and success in the current financial year and beyond as indicated by the results of the first two months.”
Clive Williams, non-executive chairman of THB, said: "We expect premium rates to continue to soften throughout this year in most of THB's markets, with the exception of North American property rates. However, we believe that the business is well equipped to respond to changes in its chosen specialist markets."
