Lark Group sees improved results following Groupama MBO
Lark Group has reported an EBITDA of £5.6m for 2012, up 12% from the £5m reported in 2011.
In its first set of results since it completed the management buyout of Groupama’s majority shareholding in August last year, the broker also reported a 10.2% jump in turnover, at £23.7m compared with £21.5m the previous year.
And profit before tax increased by 13.1%, from £4.9m to £5.5m.
The group said that the acquisition of Cadogan Hanover Park in September 2011 had contributed 8.1% to the increase in turnover, and 9.5% to the increase in EBITDA, with the rest made up of organic growth.
Graha
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