Randall & Quilter Investment Holdings plc (RQIH.L) posted 2011 pre-tax loss of 4.66 million pounds versus pre-tax profit of 7.52 million pounds last year.
Loss per share was 0.9 pence versus earnings per share of 12.0 pence in the previous year.
Adjusted profit before tax was 8.8 million pounds, higher than 7.5 million pounds last year.
Total income rose 12 percent to 36.79 million pounds from 32.82 million pounds a year ago, as the full year benefit of acquisitions made during the course of 2010 and organic growth in the operating companies outweighed lower investment income.
Commenting on the results, Ken Randall, Chairman and Chief Executive Officer of the Group said,
"It is pleasing to report a rise in Group profit (prior to goodwill impairment) during the year compared to 2010. Our expectation of a much stronger second half of the year was realised, especially in the Insurance Services Division which benefited from the anticipated increase in profit commission on syndicate 3330 and a second half revenue bias in certain of our operating subsidiaries..."
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by RTT Staff Writer
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