Towergate reports loss of £6m for 2012
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
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