Ardonagh reports Q1 results
The business highlighted Ebitda and acquisitions as it points to “limited” Covid-19 impact.
Ardonagh Group reported an income of £160.1m for the first quarter of 2020.
This compares to £157.6m in the same period last year.
Adjusted Ebitda grew to £43.6m a 10.9% uptick on the £39.3m reported in 2019. Operating costs also fell 1.5% to £116.5m.
Divisions
The investor report broke down the numbers with advisory income hitting £55.7m and retail, which comprises Atlanta Group, contributing £64.4m. Its specialty division reported income of £39.0m.
Operating profit was £13.2m up from the
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