BHIB profit drops 10%
Turnover also declined with the broker citing market conditions, soft rates and competition.
Brokerbility Holdings Insurance Brokers (BHIB) has recorded a 10% drop in profit after tax citing factors including tough market conditions, soft rates and competition.
The results for the year ended 31 May 2017 showed that profit after tax for the Brokerbility owned-company fell to £893,978 compared to the £994,980 the year before.
The filing at Companies House also revealed that there was a slight decline in turnover for the broker business from £7.31m posted last year to £6.94m.
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