Ardonagh losses decrease for Q1
Income goes up for the quarter as Swinton is credited with assisting growth despite branch closures.
In a report to investors, Ardonagh reported income of £157.6m for the first quarter of 2019, up from £127.8m over the same period in 2018. Adjusted Ebitda also grew, rising from £26.9m in the first quarter of 2018 to £39.3m in the first quarter of 2019.
The picture shifts slightly when considering numbers compiled pro forma for completed transactions.
Ardonagh published a decline in this measure of income from £164.2m in the first quarter of 2018 to £158.5m over the same period in 2019
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