Ardonagh posts £14.1m loss for Q1 2018
Ebitda grows to £23.1m as investor report reveals book acquisitions and legacy costs of £2.5m.
Ardonagh Group has reported a £14.1m loss for the first quarter of 2018 according to its report to investors.
However this was still an improvement on the £21.3m losses in Q1 2017.
Ebitda grew to £23.1m in the three months from £787,000 in the same period last year.
Total reported income went up to £127.8m (Q1:2017: £77.9m) with Ardonagh stating that this was driven by acquisitions over the past three quarters and continued progress within its Towergate transformation plan.
The business
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