Oval results show rise in Ebitda
Oval Group has revealed a 4% rise in profitability as measured by Ebitda to £15m for the year ended 31 May 2012.
The figures, released to staff today in an email seen by Insurance Age, showed that gross sales increased by £5.5m to £108.1m, a 6% rise on the previous year.
After taking account of exceptional one-off items such as restructuring costs incurred in the year, the underlying profitability of the group (EBITDAE) grew by 16% to £17.7m [2011: £15.3m].
The group also paid off £6.1m of debt during the year.
In the email Peter Blanc, group CEO at Oval, stated that the results reflected a strong year for
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