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Lorica reports £2.56m loss

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Broker predicts profits by March 2016.

Lorica Insurance Brokers has reported a loss of £2.56m for the year to 31 March 2014.

In the previous 12 months operating losses were £2.55m and in 2012 the figure was £1.26m.

The broker noted that of the £2.56m loss, £1.03m related to investment in hiring new staff during the year and £150,000 was an initial capital investment with Acturis.

It added that for the year to 31 March 2015 it expected losses to be below £1m.

For the following year (1 April 2015 to 31 March 2016) Lorica said it

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