Investing in people, operations and infrastructure has supported this growth trajectory, says chief executive

Insurance broker and independent financial advisor Lycetts more than doubled its pre-tax profits during 2021 – its 60th year of service.

The firm’s pre-tax profit last year increased by 154% in the 12 months to December 2021 to reach £2.7m – up from £1.1m in 2020.

The broker’s turnover also rose during this reporting period to £23.5m – an increase on the £22.4m turnover it recorded for 2020.

Lycetts chief executive Charles Foster said: “Continued investment in our people – through training, sponsorship and qualification programmes – and in our operations and infrastructure, ensured we maintained our growth trajectory.

“The hybrid working model we established at the start of the pandemic in 2020 was successfully embedded, enabling us to deliver the highest possible service standards to our clients.”

Lycetts was established in 1961 and is based in Newcastle upon Tyne.