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Interim Results

Charles Taylor revenues up 36.1%

06 September 2017 09:17

Charles Taylor's revenues rose 36.1% to £100.7m in the six months to the end of June.

Adjusted profit before tax increased by 1.2% to £6.1m but statutory profit before tax fell by 41.4% to £3.1m, largely due to amortisation of intangible assets.

Group chief executive David Marock said: "The group has had a steady start to 2017 and we anticipate that our full year performance will be in line with the board's expectations.

"We are making good progress in delivering our growth strategy:

"Our Management Services business provides a solid core to our business with deep, long-lasting client relationships and delivers steady, reliable growth.

"The Adjusting Services business is a well-established, global loss adjusting business, with leadership positions in key markets. It is well-positioned to drive growth and increased profitability through improving the underlying performance of our existing business lines, building capabilities and diversifying our income streams.

"The Insurance Support Services business includes established and newer businesses with the potential to deliver a material change in earnings in the longer term.

"We are very positive about the long-term prospects for Charles Taylor.

"We are taking forward numerous growth initiatives and, as set out in this report, our investments are delivering positive results.

"The Group has delivered strong revenue growth and we believe we are well-positioned to deliver further growth, increased profit and greater shareholder value."

At 9:17am: (LON:CTR) Charles Taylor PLC share price was -7.5p at 239.88p

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