Uninsured loss recovery company Universal Salvage said it produced an "unacceptable" loss for the year ended 1 May 2004.
The group reported an operating loss of £4m and a 22% drop in turnover from £61.3m in May 2003 to £48.4m in May 2004.
The group said a decline in prices for salvage vehicles, weaker than anticipated salvage vehicle volumes and an unnecessarily high cost base affected its trading results.
Group chairman Alexander Foster said: "We have an excellent new chief executive who is fully committed to turning around the business."
The 2025 Insurance Times Awards took place on the evening of Wednesday 3rd December in the iconic Great Room of London’s Grosvenor House.
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.
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.
Many congratulations to all the worthy winners and as always, huge thanks to our sponsors for their support and our judges for their expertise.
