Lycetts returns to profit in 2019
Broker reveals it recently undertook a strategic restructure, creating a single insurance division, and completed a deal for broker Robertson-McIsaac.
Lycetts Holdings has posted an increase in turnover and a return to profit for the year ended 31 December 2019.
The broker and financial adviser said in a statement that it had achieved a pre-tax profit of £1.29m in 2019, up from the pre-tax loss of £224,878 reported in 2018.
In addition, its turnover rose to £22.67m in 2019, compared to £21.60m in 2018 for the broker which is owned by Ecclesiastical.
According to a document filed on Companies House, Lycetts also posted an operating profit of
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