Turnover and profit down at Moorhouse in 2017

cash-in-hand

Turnover at Caerphilly-headquartered Moorhouse Group dropped by 30% in the year ended 30 September 2017, according to figures filed by the firm at Companies House.

The drop from £10.77m to £7.5m knocked on to a 16% fall in post-tax profit which came in at £500,000 (2016: £595,000).

In November 2016 Danish insurer Qudos ended its motor trade and commercial vehicles capacity deals with Moorhouse managing general agent Xbroker.

The group highlighted in its report that a loss of capacity had

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