Swinton focuses on "simplify" strategy as profits drop 26%
Company secretary, Annabel Wilson, stated in the accounts statement that the market continued to remain very competitive in 2015, with lower volumes leading to the reduction in turnover.
Swinton's profit after tax dropped 26 percent to £16m for the year ended 31 December 2015 (2014: £22m), from the same period last year, but highlighted that it would continue on the path of implementing its "simplify and focus strategy".
Operating profit within Swinton decreased 23 percent to £19.5m (2014: £25.06m), according to accounts filed at Companies House.
The broker also saw turnover drop 7 percent to £265.3m, compared to the £285.9m it posted last year.
Competitive
The broker declined to
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