First-half adjusted operating profits rise to £1.3m.
Manchester broker CBG has announced a solid set of interim results for the six months to 30 June with a 69% rise in adjusted operating profits to £1.3m and an 80% growth in revenue to £5.6m.
The general insurance and financial services intermediary said its pretax profit rose to £930,000 pounds from £628,000 the previous year. There was also a 45% increase in adjusted diluted earnings per share to 6.26p, versus 4.33p for the same period in 2007.
Laurie Turnbull, chairman of CBG, said: “Revenue, profit and earnings per share are all well ahead of the comparative period last year. Since CBG joined AIM in 2003 we have never failed to substantially improve our performance, whether that be annually or at our interims, and I am pleased to inform shareholders that our record continues.”
The company added that it has completed its largest acquisition of Barclay Brown Holdings and Howgud. It has made 18 acquisitions to date.