Loss adjuster Crawford & Co registered a loss of £1.2m before tax for the year ended
31 October 2003, despite a £1.25m increase in turnover. The result followed a £1.5m profit in 2002.

The company blamed the poor result on difficult trading conditions, with UK claims volumes at an all time low.

The company report stated: “A newly-appointed management team is focused on best business practice and developing a sustainable model in the context of a
changing market.

“The company expects continued growth in sales and profit in the next financial
year as a result of revenue growth across all sectors of the business and rationalisation
of costs.”