JELF GROUP PLC Interim Results

Jelf, an independent full service brokerage that supports businesses and individuals, announces its interim results.

Financial highlights

Strong financial performance continues:

• Revenues in line with last year at £35.2m (2011: £35.0m)
• EBITDA increased by 5% to £4.4m (2011: £4.2m)
• EBITDA margin increased to 12.6% (2011: 12.1%)
• Earnings per Share increased by 41% to 1.0p (2011: 0.7p)

 

Cash generated from operations continues to be strong:

• Net debt down to £1.1m (2011: £10.0m)

 

Operating highlights

• Revenues in the Insurance business are up 4% to £23.3m (2011: £22.3m)
• New business sales in the Insurance business are up by 14%
• Margins in the Employee Benefits business increased by 7%
• Margins improved at the same time investment continues to be made in improving organic growth

Alex Alway, Group Chief Executive said: “The Group continues to make progress and the investment within the business in growth initiatives and in further improving cost efficiencies continues to make a difference.  It is anticipated that this will drive improved performance in 2012/13 and beyond.”