Momentum grows turnover and profit as it tops £50m GWP
Appointed representatives network Momentum has reported turnover of £9.9m for 2021, up from £7.8m in 2020.
Gross profit was £3.8m (2020: £3.1m) and operating profit reached £799,672 compared to £689,573 the previous year.
Administrative expenses grew year-on-year from £2.4m to £3.0m with profit before tax hitting £778,959 (2020: £667,908).
In its report, filed on Companies House, the firm flagged key highlights during the year. These included gross written premium growth of 37% to £50m. Last year the business placed £39m in GWP via 103 AR members.
The report detailed that, since then, the network
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