Lycetts turnover grows to £19.8m
However, profits down as the firm points to increased investment in staff and IT as its moves from several platforms to Open GI.
Lycetts has reported increased turnover of £19.8m for the year ending 31 December 2016.
This is up on the £18.9m achieved in 2015. However operating profits were down slightly from £1.98m in 2015 to £1.91m. The parent company of Lycetts is insurer Ecclesiastical.
In its financial report from Companies House the broker advised that this reduction was due to increased investment in staff and its IT system. Staff costs increased accordingly from £11.2m to £11.9m.
Lycetts marketing manager Peter
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