Adjusted Ebitda hits £79.1m for Ardonagh Group
CEO David Ross says results for the Towergate-owner were strong with positive income and Ebitda growth in the nine months to 30 September 2017.
Towergate-owner Ardonagh Group has reported increased income and adjusted Ebitda for the nine months to 30 September 2017 according to its latest set of results.
Income hit £373.4m compared to £360.0m to Q3 2016 and adjusted Ebitda went up to £79.1m compared to £66.1m in the same period last year.
Expenses grew slightly to £294.2m (2016: £293.9m) and the margin was reported as 21.2%, up from 18.4%.
Pro forma adjustments for the nine month period were £24.5m (2016: £30.5m) and pro forma
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