Broker Network shares and profit leap
Grant Ellis, chief executive of the Broker Network, has overseen record profits in the first half of...
Grant Ellis, chief executive of the Broker Network, has overseen record profits in the first half of its latest financial year ending 31 October. Turnover increased by 79% from £5.85m to £10.5m, and pre-tax profit climbed 71% from £1.13m to £1.94m.
Significantly, Ellis has managed to negotiate an increase in commission margins for his network members and the group, despite the soft market. For example, for a typical £1 of premium, the network broker receives 15% and the Broker Network receives 2
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