Consolidator says it produced a strong performance.

Towergate Partnership has reported a loss of nearly £15m in 2007, according to its annual report.

The consolidator reported a turnover of £268.9m for the year ended 31 December 2007, up 12% on the previous year.

The group operating profit was £38m.

But interest payments and finance costs totalling over £59m pushed the company to a £14.7m loss after tax. This compares to a profit of over £4m in 2006

Towergate said it had produced a strong performance. Earnings before interest, tax, depreciation and amortisation rose 15% to £108.5m. It attributed the increase to higher turnover, improved margin and tight cost control.

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