No IPO on the table at Hastings
Gary Hoffman, chief executive of Hastings Insurance Group, has reiterated that an IPO is not in the pipeline for the company as it posted soaring profits, although it could still be an option in the future.
"It is still look and wait, we are keeping all our options open," he declared.
The statement came as the business reported a 100% increase in Ebitda to £70m with profit before tax nearly doubling to £61m in 2012.
Mr Hoffman continued: "We don't need to raise external funding to fund our growth. We create very good profits and therefore capital and cash to invest in the business for future growth.
Arguing that the owners continued to see lots of growth and value in the business as it is, he added
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