Ebitda rises despite income fall at Towergate in Q3 2016
CEO Ross says consolidator has reached a “milestone”.
Towergate has reported a 4.8% drop in income for the third quarter of 2016.
The fall to £80.8m (Q3 2015: £84.9m) did not prevent the consolidator from posting an increase in profits.
Adjusted Ebitda rose 5.9% to £19.4m.
The net effects of the quarterly performance were that income for the year to date has hit £245.7m, down from £262.1m in the same period last year.
The adjusted Ebitda measure has reached £59.7m - a 10.6% fall on the first nine months of last year.
Nine month
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