Results

- CBC losses mount

CBC UK reported increasing operating losses for the year ended 31 December 2003. In 2002, the liability underwriter reported a loss of £135,370 on a turnover of £5.5m. This increased to a loss of £279,066 on a turnover of £5.8m. Pre-tax profit fell from £188,644 in 2002 to a loss
of £31,109 in 2003. The company was acquired by Besso on 31 October 2003 and advanced a £500,000 loan to Besso in January 2004.

- Clayton profit crash

Clayton Group reported a pre-tax profit of £1.2m on turnover of £18.4m in the 12 months ended 31 December 2003. This compares to a pre-tax profit of £6.2m on a turnover of £19.5m in 2002. Denis M Clayton & Co reported a
pre-tax profit of £1m on
a turnover of £17.5m for the 12 months to 31 December 2003 compared to £6m on a turnover of £18.8m in 2002.

- Walsham cuts losses

Reinsurance broker Walsham Brothers cut its losses for 2003. It reported that its
pre-tax loss for the year to
31 December 2003 was £27,068 on a turnover of £4.6m compared to £2.1m on a turnover of £6.5m for the same period in 2002.

- Bennett Gould slump

Profits at Bennett Gould & Partners fell in 2003. The broker reported a pre-tax profit of £41,710 on a turnover of £958,960 for
the 12 months to 30 September 2003 compared to a pre-tax profit of £181,977 on a turnover of £899,379
in 2002.