Charles Taylor announces Half Year results 2019
11 September 2019
Charles Taylor plc announced its half year results to the London Stock Exchange on Wednesday 11 September 2019. The Group performed well in H1 2019.
Business highlights for the half year are:
- Expanded Charles Taylor Claims Services through organic and acquired growth in loss adjusting and through bringing together the Group’s claims handling activities into a joined-up business, which is winning new business.
- Continuing to deliver reliable and sustainable Charles Taylor Insurance Management revenues from major long-term clients. Concluded the strategic review of Charles Taylor Managing Agency resulting in the sale of the business, subject to regulatory approval.
- Achieving scale for Charles Taylor InsureTech through an expanded international footprint. Won new business from clients in Europe and Latin America and increased recurring revenues. The business delivered a close to break-even result.
- Made good progress on integrating previous acquisitions.
- Delivered substantial and sustainable growth in top-line and adjusted bottom-line growth.
David Marock, Group Chief Executive Office, Charles Taylor plc said: "Charles Taylor performed well in H1 2019. We are successfully executing our strategy to grow the business. Our focus on expanding our Claims Services and InsureTech businesses was achieved through new clients wins and solid organic growth with Claims Services delivering an improved margin, and InsureTech delivering a close to break-even operating result. While revenues from Insurance Management were marginally down, we delivered an increase in profits. Together this resulted in strong growth in the Group’s revenue, adjusted EBITDA and adjusted profit before tax."
Click here to read the full results announcement.