Giles Insurance Brokers reveals £2.25m loss
Giles Insurance Brokers lost £2.25m in 2012, reversing a profit of £998,000 the year before.
The results, posted in a filing at Companies House, show that in the year to 31 August 2012, the firm spent £186,000 on aborted acquisitions.
The document also showed the loss was driven by exceptional costs including £2.8m for the integration of acquisitions, £718,000 for the restructuring of equity and debt financing of the group (Expectrum and subsidiary companies) and £563,000 for projects relating to the restructuring of the business and the implementation and development of new processes.
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