Admiral profits increase by 7%
Admiral has reported a 7% increase in profit before tax to £216m for 2009, compared to £203m the previous year, while turnover rose 18% to £1.08bn (2008: £910m).
In its preliminary results for 2009, Admiral said its customer numbers were up 19% to 2.08 million (2008: 1.75 million) and profit from from UK car insurance is up 15% to £207m (2008: £180m). Confused.com profits were up slightly to £25.7m (2008: £25.6m).
Henry Engelhardt, Admiral group chief executive, said: “In 2009 Admiral’s continued strong growth enabled us to exceed £1 billion turnover for the first time in our history, to deliver yet another set of record profits and to pay another record
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