Oval has reported its first full year profit of £2m (2004: £0.3m loss)in its results for the year to 31 May 2005.

Oval unveiled a dramatic increase in turnover of 372% to £34m from £7.2m.

The company said that all of the three acquisitions it had made during the year grew their turnover against previous years.

Phillip Hodson, the group chief executive of Oval, said: "Our strategy of buying top quality commercial brokers has been proven and we expect Oval to go from strength to strength."

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