PIB set for more UK deals
PIB is set to move forward with more UK deals and is also achieving double digit organic growth according to chief financial officer, Ryan Brown.
Recently the business has been completing M&A in Europe, but Brown told Insurance Age that there were a number of UK deals in the pipeline.
In 2021 the consolidator spent £85.5m on buying. Its results document also showed that income increased by 52% from £151.5m to £230.9m.
Ebitda for the period soared by 87% to £44.6m while adjusted Ebitda jumped by 78% to £67m. The operating loss for 2021 narrowed to £1.3m from £9.9m in 2020 while the pre-tax loss ticked up to £30.6m (2020: £24.7m).
Brown
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