Windsor PLC's profit slipped by 4% to £5.26m for the year ending 30 September 2006.
The listed broker improved its revenues by 8% to £22.22m but decided not to release a dividend while a proposed management buyout is discussed. Earnings per share were 2% lower at 5.41p.
David Low, Windsor chairman, said: “2006 has been dominated by continuing downward pressure on rates across almost all of our operating divisions. Given this market environment group profitability has been sustained by a successful year for both our professional indemnity and liability operations, while the integration of our acquisitions has helped offset the reductions caused by soft rates.
"The executive directors of the company announced on 13 September 2006 that they were considering making a formal approach to the company that might lead to an offer for the shares in the company. If such an offer were made it was indicated that it would be on the basis that the shares would be acquired with rights to all future dividends.”
