Simply Business boosts profit 42% in 2023
Xbridge, which trades as Simply Business, achieved double-digit profit and revenue growth in 2023.
The online broker for SMEs and landlords boosted revenue by 14% to £169.4m, with the firm citing a strong performance in new business and a growing renewals book.
According to a filing at Companies House, profits increased even more, with efficiencies helping to drive the post-tax result up 42% to £20.8m. The rise more than reversed the decline in 2022 when it slipped by just under 2% to £14.7m due to higher staff and marketing costs.
RelatedSimply Business parent Xbridge posts revenue rise butOnly users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
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