Towergate delivers rising Ebitda and reduced losses

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The company also declared that it had cut its operating spend by 3%.

The results came as the consolidator's losses before tax narrowed slightly to £25.1m (H1 2011: £25.5m) with income broadly flat at £219.5m (H1 2011: £219.3m).

However gross written premiums rose by 8% to £1.6bn from £1.47bn in the comparable period the year before.

The increase in Ebitda - defined by Towergate as operating earnings - for the six months to 30 June 2012, will have been particularly pleasing for group CEO Mark

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