Towergate reports loss of £6m for 2012

Big losses see Amazons shares hit 12-month low

Towergate has posted a £6.1m group pre-tax loss for 2012.

The company reported a £75.5m loss in 2011, although this has been revised to £27m following a restatement of results.

The operating earnings, which have been changed to reflect the sale of PowerPlace to Open GI, grew by 4% to £161m from £155.4m in 2011.

The company reported a 19% dip in income in its network division, from £20.5m in 2011 to £16.6m in 2012. Operating earnings for the division also shrank, from £13.1m to £10m.

The retail division saw income improve from slightly from £255.6m in

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@insuranceage.co.uk.

You are currently unable to copy this content. Please contact info@insuranceage.co.uk to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Insurance Age? View our subscription options

Register

Sign up and gain access to five complimentary news articles every month.

Already have an account? Sign in here

This address will be used to create your account

You need to sign in to use this feature. If you don’t have an Insurance Age account, please register now.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: