Profits up at Bluefin as revenues remain flat
Bluefin has reported a 10% increase in Ebitda to £25m for 2013 from £22.7m the year before.
The increase came despite revenues remaining static at £100m.
The commercial broking arm, which represents 90% of Bluefin's income, grew operating profits by approximately 15% over the year while the firm defined personal lines business as remaining "challenging in an extremely competitive market".
The broker also reported that operating expenses dropped by £2.7m to £75m for the year, a 3.5% decrease on the previous 12 months.
Mike Bruce, CEO of Bluefin, said: "A number of important developments
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