Ten takes small profit hit due to software house move

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Ten Insurance Services has reported a rise in turnover to £11.8m for the full year to 31 December 2018 (2017: £11.3m).

However operating profit fell slightly to £265,000 for the year, from £316,000 in the preceding year.

Pre-tax profit was £263,000 (2017: £301,000), while expenses grew to £2.6m (2017: £2.3m).

Technology
Ten director James Sharp explained that the dip in profit was a result of the business going through the process of moving all of its appointed representatives (AR) to Acturis

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