Turnover dips but profit stable at Open GI in 2017

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Open GI has reported a profit after tax of £21.8m for the year ended 31 May 2017.

The figure represented a 4.5% increase on the £20.8m achieved in the previous 12 months.

However the firm noted that the Ebitda measure decreased slightly to £27.2m (2016: £28.6m).

The results released in a filing at Companies House also showed that Open GI boosted its research and development spend by 8% for the year to £7.6m.

Investment
Charles Ralph, chief financial officer at Open GI, confirmed to Insurance

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