CBG Group plc

Investor Relations

 
Highlights for the year ended 31 December 2008

 

  • 49.9% increase in revenue to £11,148,000 (2007: £7,436,000) 
  • 21.2% increase in adjusted* EBITDA to £2,602,000 (2007: £2,146,000)
  • 17.5% rise in adjusted* pre-tax profits to £2,246,000 (2007: £1,912,000)
  • 7.2% increase in diluted adjusted* earnings per share to 11.00p (2007: 10.26p)
  • 10.0% increase in final dividend proposed to 0.66p per share (2007: 0.6p) 
  •  Two acquisitions, Barclay Brown and EDN were completed in the year and fully integrated
  •  Successfully raised £1.65m via oversubscribed placing at 120p; and
  • New head office with over 100 staff transferred to Southmoor House, Manchester resulting in significant cost savings and increased cross selling opportunities.

    *Adjusted to add back exceptional operating expenses, amortisation, negative goodwill credited and share option charges.

Laurie Turnbull, Chairman said:
We are pleased to announce another set of very impressive results, especially in the current economic climate.  CBG has, for the past six years, demonstrated continual growth organically and through acquisition.  Last year we successfully completed two acquisitions in the North West and we are continuing to look for further opportunities.

We have a solid business model of organic growth augmenting a selective acquisition program.  This enables us to deliver a complete service to our clients including insurance broking, financial services and healthcare.  Our management teams are dedicated to enhancing shareholder and customer value.  Having invested in infrastructure and technology we are now in a solid position to take the business forward across the Group and delivered another year of excellent results.

Summary of the results for the year ended  to 31 December 2008

  31/12/2008
£’000
31/12/07
£’000
% Increase/ (decrease)
 
Revenue

   11,148

7,436 50%

Adjusted operating profit* 

   2,428

2,016 20%

Profit before tax

    1,093

1,610 (32%)

Adjusted profit before tax*

    2,246

1,912 17%

Earnings per share – diluted (pence)

     4.24

  9.31  (54%)

 
Adjusted earnings per share - diluted (pence)*

11.00

10.26 7%

* Adjusted to add back exceptional operating expenses and, amortisation, negative goodwill credited and share option charges

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Registered Office: CBG Group plc, Southmoor House Southmoor Road Manchester M23 9XD (Reg No: 4090588)
Place of Registration: England and Wales.
Tel: +44 (0) 161 920 0200 Fax: +44 (0) 161 920 0169 Email:info@cbg-group.co.uk
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