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Ardonagh posts 2019 results

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Losses for the group shrank as operating profit grew to £3.4m as broker reports 3.3% organic growth.

The Ardonagh Group has published increases in income and Ebitda for 2019, despite making a loss before tax of £104.2m for the year (restated 2018: £137.8m).

The investor report showed the total loss, after a tax credit, was £74m compared to £102.6m in 2018.

A press statement detailed income rose 26.6% from £527.1m in 2018 to £667.5m in 2019, while adjusted Ebitda shot up 66.4% from £110.3m to £183.4m. The increase in adjusted Ebitda is partly a result of operating costs only growing 16.1% over

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