Towergate bondholder report puts net borrowing at £896m
Towergate's quarterly report for bondholders has revealed a loss on ordinary activities of £11.39m for the second quarter of 2013.
The figure takes the loss for the half year to £30.02m.
And net borrowings stood at £896.5m at the end of the quarter, up from £862.4m at the end of the second quarter in 2012.
Interest payable and similar charges for the quarter were £25.42m (Q2 2012: £24.08m) and for the half year were £49.79m (H1 2012: £47.55m).
The results for parent company Towergate Holdings II, calculated under a different accounting procedure to the Towergate Insurance £9.9m loss, also showed that group turnover was up
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@insuranceage.co.uk.
You are currently unable to print this content. Please contact info@insuranceage.co.uk to find out more.
You are currently unable to copy this content. Please contact info@insuranceage.co.uk to find out more.
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@insuranceage.co.uk
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@insuranceage.co.uk
Most read
- Wakam receives PRA approval for new £500m GWP UK insurer
- Aviva’s David Martin on the art of the possible
- Brokers push for more from RSA/NIG