PIB's £50m spending on brokers in 2018 revealed
Consolidator's losses increased in 2018, but turnover jumped to £106.8m as it is set to continue its buying spree after £200m debt refinancing.
PIB Group’s turnover nearly doubled in 2018, to £106.8m from £59.7m in 2017.
According to a document filed on Companies House, the business also posted a post-tax loss of £23.1m in 2018 (2017: £12.3m).
However, PIB also reported that its Ebitdae profit had jumped to £15.1m in 2018 from £4.0m in the preceding year.
Progress
Ryan Brown, chief financial officer for PIB, commented: “We are delighted with the progress we made in 2018 as a group in what was only our third full year of operation.
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