Simply Business reveals losses for 2017
Online broker says loss due to costs from Travelers takeover.
Xbridge, trading as Simply Business, has reported a pre-tax loss of £470,000 for the year ended 31 December 2017.
This is compared to a pre-tax profit of £7.34m in the preceding year.
The online broker also posted an operating loss of £438,000 (2016: profit of £7.36m) and a total loss of the year of £317,000 (2016: profit of £6.43m).
However, Simply Business’ revenue grew by 18% to £56.83m, compared to £48.01m in 2016.
Average number of employees also increased to 422 in 2017 from 340 in the
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