Giles not headed for IPO chief exec insists

Brendan McManus

Mr McManus made the claim as the Giles group reported a 16% increase in turnover to £81m (2010: £70m) and a 15% increase in EBITDA to £24m from £21m the previous year.

However the total loss for the group was stable at £37m.

This was due, according to the company, to non-cash accounting elements such as writing off goodwill and equity charges.

Mr McManus told Insurance Age: “We often read that Giles is looking for an exit, that Charterhouse are looking for an exit or we want to do an IPO. I want

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