Ardonagh Group posts fall in Ebitda but rising income
Firm says one-off costs impacted the results, while its change programme is reaching its final stages.
The Ardonagh Group has posted an income of £252.4m for the first half of 2017 (H1 2016: £243.4m), according to its financial results.
However, its Ebitda for the six month period was down to £14.4m for the six months ended 30 June 2017, compared to £19.0m for the same time period in 2016.
Excluding one-off costs, the group reported an adjusted Ebitda of £57.6m for the first half of 2017, compared to £47.5m in 2016.
In addition, its pro forma adjusted Ebitda was £57.6m (H1 2016: £47.5m).
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