Ardonagh nearly halves loss in first 9 months of 2018

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The Ardonagh Group has reported a loss of £48.9m for the nine months to 30 September 2018, compared to a loss of £80m in 2017.

According to the company’s investor report, its reported income increased to £403.5m (9M 2017: £290.2m).

Using pro forma figures the business posted an adjusted Ebitda of £90.5m (9M 2017: £89.6m).

Investment
Ardonagh stated that the loss was a result of continued investment in the business and costs associated with acquired companies including increased group

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