Interim Results for the six months ended 31 March 2010
16 June 2010
JELF INCREASES MARGIN
Jelf Group plc, a leading independent corporate consultancy providing advice on insurance, employee benefits and wealth management, today announces its interim results for the six months ended 31 March 2010.
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The complete results are available to download in PDF Format
Financial highlights
- Revenue in line with last year at £34.9m (2009: £35.0m) but EBITDAE increased by 20% to £4.1m (2009: £3.5m)
- EBITDAE margin increased by 20% to 12% (2009: 10%)
- Net debt reduced to £13.6m (31 March 2009: £38.8m; 30 September 2009: £30.7m)
Operating highlights
- Integration of the acquisitions continues:
- Wealth management integrated
- Employee benefits fully integrated by 30 September 2010
- Insurance integration in advanced stages
- Focus on costs has achieved results and increased margins but there is more to be done as economic forecasts remain uncertain
- Award of 2* for outstanding customer service from Investors In Customers from (IIC)
Alex Alway, Group Chief Executive, said:
"The wider economic climate remains challenging but Jelf has maintained its revenue levels and, thanks to actions taken last year, both profits and margins have increased. This, coupled with the strengthening of the balance sheet puts the Group in an excellent position to take advantage of future opportunities."
Enquiries:
| Jelf Group plc Alex Alway, Group Chief Executive John Harding, Group Finance and Operations Director |
01454 272713 0117 315 6563 |
| Cenkos Securities plc Ian Berry |
0207 397 8926 |