Brightside achieves tenth year of record results

Specialist insurance broker Brightside unveiled a rise in annual profits on Friday as insurance policy sales grew.

Specialist insurance broker Brightside unveiled a rise in annual profits on Friday as insurance policy sales grew.

Profit before tax for the year ended December 31st 2012 came to £17.5m, up 28.7% on the previous year.

Revenues increased by 13.4% to £91.2m boosted by a 4.8% jump in total insurance policy sales to 465,726.

Results were also aided by the successful launch of white labelled affinity insurance products last July. The company landed affinity contracts with Debenhams and Asda last year.

Earnings before interest, tax, depreciation and amortisation (EBITDA) climbed 21.6% to £22.5m.

Earnings per share increased 35.6% to 2.78p.

The company recommended a final dividend of 0.28p per share.

"2012 was the tenth successive record year for Brightside with 35.6% growth in earnings per share. In particular, the systems capability purchased late in 2011 and a strengthening of our panel of insurers has enabled us to grow our eCar on-line offering and initiate affiliate programs for major brands and we have seen continued growth in our ancillary businesses," said Chief Executive, Martyn Holman.

RD

Recommended

Broker safety – your questions answered
Investment strategy

Broker safety – your questions answered

Cris Sholto Heaton answers more of your questions about the safety of stockbroker accounts
25 Mar 2020
How demographics affects stock valuations
Investment strategy

How demographics affects stock valuations

New research suggests that stock and bond valuations are driven by the age of the population – at least in the US.
24 Feb 2020
Do you own shares in Sirius Minerals? Here’s what you need to do now
Stocks and shares

Do you own shares in Sirius Minerals? Here’s what you need to do now

Mining giant Anglo American has proposed a cash takeover of Yorkshire-based minnow Sirius Minerals. Unhappy shareholders must decide whether to accept…
20 Feb 2020
Why investors should be “cautiously bullish” for 2020
Stockmarkets

Why investors should be “cautiously bullish” for 2020

Analysts have been out in force making rosy predictions for stockmarkets in 2020, but while there is certainly a case for optimism, investors should r…
17 Jan 2020

Most Popular

The rising dollar is proving bad news for most other assets – will it last?
Investment strategy

The rising dollar is proving bad news for most other assets – will it last?

Precious metals, stocks and pretty much every other asset has taken a tumble as the US dollar strengthens. Dominic Frisby looks at how long this trend…
23 Sep 2020
The electric-car bubble could get an awful lot bigger from here
Renewables

The electric-car bubble could get an awful lot bigger from here

The switch to electric cars is driving a huge investment bubble. But that’s not necessarily a bad thing, says John Stepek. Fortunes will be made and l…
24 Sep 2020
Why you should stuff your end-of-pandemic portfolio with Chinese stocks
China stockmarkets

Why you should stuff your end-of-pandemic portfolio with Chinese stocks

For an end-of-pandemic portfolio, you need assets that can cope with today’s volatility. And that, says Merryn Somerset Webb, means Chinese stocks.
14 Sep 2020