“Transformation” costs Swinton as profits fall
Pre-tax profit drops £4.4m to £11.5m as turnover also decreases to £222.8m from £265.4m.
Swinton has reported a fall in turnover and pre-tax profit for the full year ending 31 December 2016.
The broker noted in a statement that its pre-tax profit dropped from £15.9m to £11.5m. Operating profits were £14.9m (2016: £21.1m).
Turnover also decreased from £265.4m to £222.8m. The results continued the trend from 2016 when the firm also posted a 26% profit fall.
According to the broker it made “substantial progress to improve and modernise its business” throughout the year.
The company
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