Jelf Group results reveal profit boost and debt reduction
In its final results for the year ended 30 September 2010 Jelf reported operating profit was up to £3.1m from a loss of £9.7m in the same period of 2009.
The broking group's net debt also dropped from £30.7m in 2009 to £7.3m while it's EBITDAE increased by 21% to £9.8m (2009: £8.1m).
While Jelf's revenue levels remained static at £70.4m (2009: £70.3m), it claimed that cash generated from operations continued to be strong with deferred consideration from previous acquisitions now down to £0.8m (2009: £8.6m).
Alex Alway, group chief executive, commented: "As a result of our focus on our clients we have managed to produce a good performance despite
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