Profits up at Abbey Protection
Abbey Protection has announced a 3% rise in pre-tax profits to £10.3m with total revenue up 7% to £38.7m for 2012.
The specialist supplier of legal and professional fees insurance products and services to UK small-to-medium sized enterprises also reported a 2% increase in Ebitda for the 12 months to £10.9m as the claims ratio drifted to 69% from 65.2% in 2011.
Colin Davison, chief executive officer, commented: "The resilience of our business model has once again stood the group in good stead against some expected strong headwinds in 2012 and I'm delighted to report another year of revenue and profit growth
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