Both earnings and revenues up in 2011 and debt trimmed in half
Jelf bucked the tough economic conditions in 2011 by posting increased earnings and revenues, while paying down debt.
Revenues were up 2% to £72.1m (2010:£70.4m) and debt was reduced to £3m (2010:£7.3m) for the year ending in September.
Earnings before interest taxes depreciation and amortisation (EBITDAE) increased by 3% to £10.1m (2010: £9.8m). Earnings per share increased by 136% to 2.6p.
Chief executive Alex Alway said: “Strong trading during 2011 has enabled the Group to increase its income, and margins have been maintained whilst at the same time we have initiated a series of investments aimed at generating future economic growth.”
Non-executive chairman Les Owen said: “Growth has been achieved through a focus on retaining existing clients, by providing clients with a wider range of services, and by winning new clients and new members for our network, The Purple Partnership.
“Underpinning this is the high quality of our client service as reflected in a strong rating in the Investor in Customers survey. This independent and highly respected award is based solely on feedback from our clients and staff.”
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
No comments yet