Directors “satisfied” with performance
Broker/aggregator BGL Group made a profit of £52.8m in the year to 30 June 2011, up 17.7% on the £44.9m it made in the previous financial year.
Profit before tax came in at £72m in 2010/2011, up 15.5% on the previous year’s £62.3m profit.
The company, whose subsidiaries include UK price comparison site Comparethemarket.com, personal lines broker Budget Insurance and affinity broker Junction, brought in revenues of £361.2m, up 19.5% on the £302.2m it made in the 2009/2010 year.
BGL attributed the revenue growth to a static performance its broking and claims management businesses and “substantial” growth at Comparethemarket.com.
“The directors are satisfied with the performance for the year and are confident of future prospects,” BGL said in results filed with Companies House. However, the directors did not recommend the payment of a dividend for the year.
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