Oval's profits and revenue down for 2009/2010 financial year

Phillip Hodson

This was largely a reflection of the impact of the recession on Oval's client base, the firm said.

Oval said the reduction in income was mitigated in large part by cost savings, such that EBITDAE reduced by 12% from £18.7m in 2009 to £16.5m in 2010. EBITDAE margin was down slightly at 17% (2009: 18%).

These operating results, after £9.4m goodwill and other amortisation and £3.7 million of exceptional restructuring costs, give a loss before tax of £3.5m.

Oval added its senior net debt has fallen

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact [email protected].

You are currently unable to copy this content. Please contact [email protected] to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Insurance Age? View our subscription options

If you already have an account, please sign in here.

To continue reading...

You need to sign in to use this feature. If you don’t have an Insurance Age account, please register now.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: