Admiral on track to meet profit estimates
Admiral Group’s group turnover for Q1 2011 has increased by 56% to £539m but Confused.com’s turnover remained flat with the insurer citing continued pressure on margins.
Despite this Admiral said its financial position was strong and that performance to date put it on track to at least meet analysts' consensus profit estimates for 2011.
The interim management statement also showed that group vehicle count had increased 33% to 2.9 million.
Henry Engelhardt, chief executive, said: "I'm pleased to report that our business has continued to grow and prosper in the last three months.
"Admiral's UK car insurance business had another great quarter and has continued to
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