Towergate posts £5.5m ebitda loss for third quarter of 2015
Adjusted ebitda falls 50% for the three month period.
Towergate has reported a 10.3% fall in income for the third quarter of 2015.
The decline to £87m (Q3 2014: £97m) takes income for the year-to-date to £279.6m, a 9.7% fall on the first nine months of 2014.
With expenses growing to £74m for the quarter (Q3 2014: £70.9m) adjusted ebitda tumbled by 50% to £13m.
Once exceptional and group restructuring costs were added in the consolidator made an ebitda loss of £5.5m for the three month period of 2015 and of £18.7m for the year to date.
Divisional
The
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