Tysers reports strong growth in 2011
Hawkes bay Holdings, the parent company of Lloyd's broker Tysers and underwriting agency Aquila Underwriting, delivered strong growth in revenue and pre-tax profit in 2011.
Revenue grew 6% to £37.6m and pre-tax profit nearly doubled to £5.18m (£2.67m: 2010) while EBITDA rose by 42% to £7.6m (£5.4m: 2010).
Describing the company’s EBITDA as “an excellent performance”, chairman, Christopher Spratt, said that it represented a margin of 20%, up from the previous year’s 15%.
It was, he said, “gratifyingly close to the targets set in the company’s 5-year Strategic Plan at the time of the Tysers management buy-out in 2007.”
Tysers’ CEO, Chris Elliott, added: “Tysers has
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