Continued growth at Lark 2016

Graham-Lark,-Lark-Group,-Chairman

Continued Growth at Lark

The Lark Group results for the year ended 31 December 2015 saw increased turnover, EBITDA and profit before tax.

Turnover has increased 6.6% to £27,883,000 and EBITDA 2.6% to £6,547,000.

The 6.6% increase in turnover was derived predominantly from the group’s insurance broking activities arising from organic growth and new business wins and a full year of trading from the acquisition of Insurance Risk Solutions Limited made in 2014.

Profit before tax for the year increased by 7.8% to £3,634,000.

Graham Lark (pictured), Chairman says, “We are pleased with the Group’s continued growth and progress. Although the trading environment remains highly competitive in both our Insurance Broking (Commercial and Personal Lines) and Employee Benefit sectors, turnover increased 6.6% and profit before tax increased 7.8%.

The business continues to benefit from the continuity brought by its long serving senior management and staff and is committed to investing in staff development as our recently awarded Chartered Insurance Broker status demonstrates. We have also strengthened the main Group Board with the appointment of Mark Daines and Robert Keene as Directors early in 2016.

To keep pace with a rapidly changing environment, the business has also continued to make significant investment in upgrading its IT application systems and IT infrastructure to newer technology, the benefits and efficiencies of which should materialise in the future.

In addition, we have recently launched our new website, and future developments of this will significantly improve our on-line trading capability in business sectors where this is valued by our clients.

We believe the business is well positioned to progress in all of our key sectors with a continued focus on organic growth whilst considering selective strategic acquisitions, when the right opportunities are generated.”

 

 

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