Loss adjuster made £1.9m in 2009
Loss adjusting group GAB Robins Holdings UK Ltd made a profit after tax and minority interestst of £1.9m for the year ended 31 December 2009 compared with a loss of £1.2m for 2008.
The profit at the company, which consolidates the loss adjuster’s main UK operations with the GAB Robins Aviation business, was partly driven by a 16% increase in turnover to £51m from £43.9m, and was also helped by a reduction in change in work in progress to £557,459 from £2m. Operating profit was up 531% to £4.2m from £672,242.
The company’s main UK operating unit, GAB Robins UK Limited, moved to a profit of £479,784 from a loss of £2.3m. GAB Robins Aviation Limited’s profit jumped 61% to £959,617 from £594,287.
Read the full story in this week’s issue of Insurance Times, out Thursday, or click here to read it first online .
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