Interim Results for the six months ended 31 March 2006
25 May 2006
Jelf Group plc, a corporate intermediary specialising in healthcare, commercial insurance, employee benefits and wealth management, today announces its interim results for the six months ended 31 March 2006. The highlights are:
- Turnover up 53% to £7.5m (2005: £4.9m)
- EBITDA up 75% to £0.82m (2005: £0.47m)
- Operating margins increased to 9.8% from 8.5% (pre goodwill)
The Group's acquisition strategy driven by regulatory change has continued apace, with completion of the acquisition of Goss Group Ltd in March and B D Thomas after the period end.
Commenting on the results, Group Chief Executive of Jelf Group plc, Alex Alway, said:
"This half year has seen the Group continue with its strategy of strengthening its market position by acquiring and consolidating intermediary businesses along with extracting value through promoting organic growth activities across the Group. We have more than doubled the revenue size of the Group over the last 12 months. We have also managed to improve our operating margins along with making substantial investment in readiness for the next stage in our growth.
"The full year will include the beneficial effects of recent acquisitions, especially that of the Goss Group, which was acquired at the end of this financial period. As previously stated integration is proceeding smoothly and the financial results are in line with expectations.
"The trends toward consolidation of market positions and intermediaries along with the increased need for awareness of the regulatory environment will continue to generate opportunities for acquisition activity whilst also demanding high levels of professionalism from all of our staff, who once again, have risen to the challenge this year.
"The results for the first half of the Group's financial year give us confidence that 2006 is going to be another year of progress."
The full results can be viewed here.
For further information:
Alex Alway (Group Chief Executive) - 01454 272799
John Harding (Group Finance Director) - 01454 272795
Ian Seaton, Bankside Consultants - 0207 367 8891.