Academy moves back into profit in 2017
Chairman Dave Bard says broker is eyeing more acquisitions following its purchase of Glynwood Insurance Services last year.
Academy Insurance Services has posted a rise in turnover to £9.3m for the year ended 30 June 2017 (2016: £9.1m).
The broker achieved a pre-tax profit of £1.6m, compared to a loss of £4.0m in the preceding year.
Academy chairman Dave Bard explained that the losses reported in 2016 were due to a tax correction and stated they had “nothing to do with trading”.
The broker also reported an operating profit of £1.6m in 2017 (2016: loss of £3.7m) and a total comprehensive profit of £1.1m, compared
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