Turnover grows for Biba
Increased operating costs and tax and growing director salaries lead to lower surplus in 2014.
The British Insurance Brokers' Association (Biba) reported turnover of £3.78m for 2014 up from £3.53m the previous year.
Accounts filed with Companies House revealed that operating costs for the not-for-profit trade association hit £3.28m (2013: £3.03m).
Tax also increased to £124,559 (2013: £60,416) meaning its overall surplus for the year reduced to £397,809, less than the £480,212 for the previous year.
Income from subscriptions fell to £1.73m (2013: £1.81m) but schemes income grew from £384
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