Insurance Age

Oval Group reports strong EBITDA performance as debt falls by £8m

Peter Blanc
  • Andrew Pearce
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This represents a 10% uplift on the £17.7m posted for the previous year.

The group also enjoyed a 15% increase for EBITDA after exceptionals, recording a £2.3m jump to £17.3m. 

And its net bank debt was £8.1m down on 2012 levels, coming in at £28.2m compared with £36.3m.

Taking insurance broking on its own, including its international and healthcare offerings, net revenue edged up 1% to £75.8m from £74.7m.

In July 2012, Peter Blanc, Oval chief executive told Insurance Age that he was targeting a

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