Revenue spikes 14% at SEIB in 2021
SEIB Insurance Brokers has reported increases in revenue, operating profit and profit before tax for 2021.
The broker achieved a 14% increase in revenue to £12.23m with operating profit rising 12% year on year to £2.38m.
Profit before tax was also up, by 8% from £2.92m in 2020 to £3.14m.
However, an increased tax bill meant profit after tax fell by £329,055 to £2.54m. In 2020 the broker had benefited from a prior year corporation tax credit.
SEIB bought Colchester-based WRS Insurance Brokers in the third quarter of 2020.
In a filing at Companies House for the year ended 31 December 2021 the
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