Bollington reports profit and turnover surge
Turnover shot up to £23.6m in for the year ending 31 December 2019 from £14.4m the previous year and the broker flags £24m bank loan for deals.
The broker also reported that profit-before-tax went up to £4.6m, an increase on the £3.1m filed in 2018.
Gross profit was £20.5m with administrative expenses hitting £15.9m. In 2018 gross profit was £13.5m and admin expenses were £10.4m.
Turnover was broken down into commercial, which contributed £11.9m, direct (£7.7m) and premium finance which created revenue of £3.9m.
CEO Paul Moors commented: “I am pleased with 2019. Consolidated numbers show organic revenue growth of 5% with particularly
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