Highway reports pre-tax profits

Motor insurer Highway has reported pre-tax profits of £4.9m for the six months ended 30 June 2004, up £0.2m on the same period last year. In a statement, the insurer said that their recent results would have been more positive had it not had to account for £1.6m in exceptional costs - £0.8m in due diligence on the aborted Cox transaction and a further £0.8m in respect of the Financial Services Compensation Scheme levy.