Charles Taylor at lower end of forecasts

Insurance consultancy firm Charles Taylor Consulting said its trading performance was towards the lower end of management's expectations, after slightly higher fourth quarter costs in the Management Services business and a quieter end to the year in Adjusting Services.

The Management Services business, which makes up the bulk of revenues, is slightly below expectations, principally as a result of higher costs in its shipping mutual business.

Its Adjusting Services business, provides loss assessments and claims-related advice to insurers, energy, marine, aviation, traded marginally below expectations in the fourth quarter although the business is significantly ahead of the previous full year's performance after a robust contribution from energy adjusting.

Try 6 free issues of MoneyWeek today

Get unparalleled financial insight, analysis and expert opinion you can profit from.

Start your trial

Sign up for MoneyWeek’s free twice-daily newsletter.

Join more than 165,000 subscribers and keep yourself informed with latest financial news, insights and expert analysis to help you understand what really matters when it comes to your finances.

Join more than 165,000 subscribers and keep yourself informed with latest financial news, insights and expert analysis to help you understand what really matters when it comes to your finances.

Sign up

On an upbeat note, the group said the concentration on cash collections in its Adjusting Services business is having a positive impact on debt.

Trading at Charles Taylor's Insurance Support Services business has performed in line with expectations.

Overall, net debt at 31 December 2011 was £34.2m, compared to £38.6m at 30

June 2011 and £36.3m at 31 December 2010.