The Innovation Group (TIG) reported a pre-tax loss of £6.5m for the nine months ending 30 June 2004, compared to a pre-tax loss of £8.8m for the previous year.
Chief executive Hassan Sadiq said: “The trading environment continued to improve. We are pleased with the progress of the first nine months of the year and, with significant contract license milestones anticipated for the fourth quarter, we remain on track for the year.”
TIG also reported an after tax loss of £7.4m, up from the loss of £91m reported for the same period of the previous year.
Turnover for the nine months was £40.9m, slightly down on the £45m reported for 2003.
The company's concentration on core business during 2004 meant it was better placed for growth in the future, said Sadiq.
Pipelines were substantially stronger compared to this time last year, he added.
The TIG board said it was confident that margins would improve with revenue growth and as legacy issues draw towards a conclusion.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
