The broker says that it will continue on the acquisition trail
High net worth specialist broker Stackhouse Poland oversaw steady accounts growth for 2014, registering a pre-tax profit increase of 1%.
Growing by £28,338, from £2,009,778 in 2013 to £2,038,117 to 2014, the broker’s results highlighted the struggle for drastic growth within the market.
Likewise, the company’s EBITDA showed incremental growth of 4%, from £3.65m to £3.78m.
Revenue showed 5% growth, with the company attributing this to acquisitions.
In August of 2014, former Paymentshield chief executive Tim Johson joined the broker as group chief executive, with incumbent Jeremey Cary moving to the newly created role of group chairman.
The broker is being tipped as a major player in the acquisition market over coming years, and during this period bought LFC Insurance Brokers, HFM Columbus Insurance Services and Coulter Hurst and Co.
Speaking in the accounts, the broker said: “This performance is very satisfactory given the competitive insurance market conditions. The company will continue to seek complimentary acquisitions as a strategy to grow the business.”
The highest paid director at the company received £286,711 including benefits, a rise of more than £100,000 from 2013, when they received £177,326.