Broker continues its disposal of international offices and appoints Hawkpoint to look at long term 'financing options'
Heath Lambert has reported a 19% rise in profit to £10.2m for the half year to 30 June.
The group’s national division saw a year on year profit increase of 53 %.
Heath Lambert consulting generated a 25 % increase in its profits and a 6 % increase in its income compared to 2006
The group’s personal lines division saw a 4 % increase in income on last year
In addition, the group said it had improved its client retention rate with a 6 % year on year increase in renewals
Heath Lambert chief executive Adrian Colosso said : “As a team, we are focused on ensuring that we maintain and build on our market leading position as the UK’s leading independent broker.
"To this end we have continued the disposal of our international offices and have recently completed the sale of LSN, our French subsidiary, for a consideration of approximately £10m.
"In addition, the lease on the group’s old headquarters at Friary Court has also been surrendered. This has proved to be not only efficient from a cost perspective, but has also improved the ability of the London based teams to work together more cohesively in one centralised location.”
Colosso added that: “But we need to expand our business further and grow. Organic growth alone is a challenge for all organisations of our size, especially given the current market conditions, so we have appointed Hawkpoint as financial advisers and will be working with them to look at our ‘financing options’ for the long term; something we have made no secret of.”
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