Revenue flat as Jelf moves into profit
Jelf has announced a profit before tax of £0.8m in its interim results for the six months ended 31 March 2011 reversing its loss of £1.2m in 2010.
The improvement came despite revenue remaining flat at £35m (2010: £34.9m).
The company said the increase in profits was due to a continuing focus on cost control and operating efficiencies. Operating profit improved 49% to £1.5m (2010: £1m).
Jelf also confirmed it had repaid £1.5m in debt reducing the total to £14.5m (2010: £16m) adding that no penalty was incurred.
Revenues from insurance were consistent representing 64% of Jelf's total income for the six months with the company adding that it
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@insuranceage.co.uk or view our subscription options here: https://subscriptions.insuranceage.co.uk/subscribe
You are currently unable to print this content. Please contact info@insuranceage.co.uk to find out more.
You are currently unable to copy this content. Please contact info@insuranceage.co.uk to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@insuranceage.co.uk
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@insuranceage.co.uk
More on Broker
Broker Direct teams up with Chinese insurer for property product suite launch
Broker Direct has partnered with China Taiping to provide property insurance products designed with brokers in mind.
Gauntlet targets ‘ghosted’ DA brokers following Clear deal
Brokerbility and Gauntlet are eyeing up expansion with brokers in all lifecycle stages after joining forces at the start of this year, with directly authorised firms moving to the AR model a key area of opportunity.
Broker growth optimism rises to new heights
Brokers are increasingly optimistic about growth, with regional players leading the way according to a survey by Aviva.
Biba 2026 Countdown: CyberCube’s Nate Brink
Nate Brink, head of broker sales and account management at CyberCube, is flying in from Michigan to attend his first ever Biba Conference and is looking forward to savouring a local curry and gaining valuable insights in the coffee queues.
Analysis: Are employee benefits the new diversification frontier for GI brokers?
This year, Top 100 UK brokers Jensten, Lloyd & Whyte and Clear have all joined amii, a trade body representing intermediaries advising on health insurance, protection and wellbeing services, while others have acquired in this space. Sam Barrett looks at why firms more closely associated with general insurance broking are branching out to capitalise on opportunities in the employee benefits market.
Biba 2026 Countdown: Gambit and Mode Insurance’s Ajay Mistry
Gambit Insurance Solutions and Mode Insurance founder and director, Ajay Mistry, recommends being selective and not trying to be everywhere on Wednesday night and sending a quick message/thank you by way of a follow up after the event.
Marsh partners with F1
Global broking giant Marsh has teamed up with Formula 1 as the series’ first official insurance broker partner and official risk partner.
JMG eyes £1bn GWP as it hits £500m
JMG Group has achieved £500m gross written premium during the financial year, setting it sights on hitting £1bn GWP within five years.