Seventeen Group boosted turnover but losses widened in run-up to PE investment
Seventeen Group grew turnover by 16.4% to £52.76m in 2024 helped by 11 acquisitions however the cost of the deals hit the bottom line.
Pre-tax losses increased year-on-year from £515,162 to £6.77m.
The business stated that the loss was in line with the directors’ expectations and reflected the group’s acquisition strategy (see box, right).
Group deals in 20244 March – BCS Hendricks8 March – Keith Miller Insurance Services8 April – Jannard Quadrant Insurance Brokers29 May – NW Risk Solutions31 May – Wisemans Insurance Services14 June – East Pennine Insurance Consultants28 June – Gen2 Broking8 October – UK & Global InsuranceOnly users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
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