Biba turnover rises by 9% to hit £3.5m
The British Insurance Brokers' Association (Biba) saw its turnover rise by 9% to reach £3.5m for the year ended 31 December 2012.
This was up on the £3.2m posted for 2011 and was 25% higher than the £2.8m turnover recorded for 2010.
The 2012 figure was largely boosted by Biba's subscriptions jumping by 12.5% to £1.8m, compared to £1.6m in 2011.
However, the trade body's schemes income continued to edge down as it fell to £406,650 from 2011's £428,557.
Biba's operating costs increased slightly to £3.2m from £3m, however its cash at bank and in hand jumped 18% to £4m from £3.4m.
The trade body's operating surplus also
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