Preliminary Results for the year ended 30 September 2006
25 January 2007
Jelf Group, the leading corporate and financial consultancy, which offers insurance, healthcare, employee benefits, commercial finance and wealth management services to businesses and individuals, announces record financial results for the 12 months to 30 September 2006.
FINANCIAL HIGHLIGHTS
- Turnover more than doubled to £25.1m (2005 : £11.5m), driven by increased cross-selling, winning new corporate clients and a number of strategic acquisitions
- Normalised pre-tax profit (before goodwill) up 148% to £3.3m (2005 : £1.3m)
- EBITDA increased 151% to £3.6m (2005 : £1.4m), with particularly strong organic growth in Employee Benefits
- Normalised Earnings Per Share up 65% to 12.4p (2005: 7.5p)
- Operating margins up 17% to 13.1% (2005: 11.2%), demonstrating further progress towards our stated objectives of raising margins despite continuing to invest in our infrastructure
OPERATING HIGHLIGHTS
- Six acquisitions in the financial year ended 30th September 2006, including commercial insurance and financial services intermediary Goss Group Ltd, all of which have integrated and driven growth across Jelf Group
- Expanded into 17 locations across the UK ( 8 in 2005)
- Corporate client numbers up 85% from 6,500 to 12,000
- Increased staff by 145% to 453 (185 in 2005)
The company is pleased to announce that it has agreed terms to acquire the entire issued share capital of Hampshire-based SPS Wellbeing Ltd ("SPS WellBeing"), a market leading specialist healthcare and group risk intermediary, for a maximum consideration of £10.0m (subject to completion accounts and the achievement in full of performance targets)..
Alex Alway, chief executive, comments:
'The strong performance in 2006 has resulted in the Jelf Group doubling its turnover, earnings and pre-tax profits. We have worked hard throughout the year to drive growth across all areas of the business. While we have been busy acquiring businesses, mainly in commercial insurance, we continue to focus on building organic growth through cross-referrals and engaging new clients. Market conditions are strong and the Jelf Group remains well-placed to deliver further growth in 2007. '
The full results can viewed here
ENQUIRIES
Jelf Group
Alex Alway, Group Chief Executive
01454 272713
Rose Clark, Group Financial Controller
01454 272853
Pelham PR
Polly Fergusson
020 7743 6362
Philip Dennis
020 7743 6363