Highway profits up despite failed bid
Motor insurer Highway has reported an increase in pre-tax profits, despite the failed merger with Co...
Motor insurer Highway has reported an increase in pre-tax profits, despite the failed merger with Cox Insurance Holdings.
It reported pre-tax profits of £4.9m for the six months ended 30 June 2004, up £0.2m on the same period last year.
In a statement, the insurer said results would have been more positive had it not had to account for £1.6m in exceptional costs - £0.8m in due diligence on the aborted Cox transaction and a further £0.8m in respect of the Financial Services Compensation Scheme levy
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