Commercial insurance broker Besso's profits have slipped.

Besso Holdings, the group's holding company, made £4.4m before tax in 2002 against £5m in 2001.

The decline was despite turnover increasing slightly to £18.8m from £17.4m. Brokerage and commissions made up £18.4m of the total turnover in 2002. But costs also increased to £15.5m from £13.9m in 2001.