THB Group has reported a strong performance for the six months to October 2006 in its interim results released today.
The AIM-listed broker delivered a 26% increase in profit before tax, and earnings per share up 31%.
The figures reveal improved results for Thompson Heath & Bond, the group's Lloyd's broker, and its provincial wholesale division. However, the results from the provincial retail operations – which were sold on 4 December - were depressed by the continuing softening of UK rates.
Chairman Clive Williams said: “The strong performance from our core business proves we are pursuing the right strategy: building on our strengths in specialist areas to reinforce our position as the preferred broking partner. Following the recent sale of our provincial retail operations we are now in the strongest position we have ever been to acquire quality teams and operations to expand our high margin business.”
Group chief executive, Vic Thompson, confirmed: “With our strengthened senior management team, including a new Director of Operations joining us in January, and our commitment to business process reform, the Group is well placed to grow. We are excited about the opportunities ahead for THB. ”
