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
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