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CBG Group plc

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Summary of the Results for the Year ended 31 December 2007

Extract from Chairman’s Statement

I am delighted to be making my annual report to shareholders, and it is pleasing to announce significant progress once again for the Group. The strategy of build, invest and grow has contributed an excellent result, with our team having delivered a creditable performance in 2007.

The Group has delivered positive organic revenue growth of approximately 8%, exceptional in current market conditions, which has contributed to a strong growth in revenue from continuing operations of 22%. When added to the part year benefit of the acquisitions we made in the final months of the year this brought a year on year increase in turnover of 44.3%. This has enabled us to increase our operating profit before amortisation, exceptional operating expenses and share option charges by 52.2% to £2.016m, with our diluted adjusted earnings per share increasing by 32%.

When I see these results, against the background of continuing challenging market conditions and premium levels remaining relatively soft in our Insurance Broking operations, I take comfort that our business development strategy is robust, delivering excellent financial returns, and one which I know can continue to enhance shareholder value.


Summary of the results for the year

  2007
£’000
2006
£’000
%
Growth
 
Revenue    7,436 5,152 44.3

Operating profit before amortisation, exceptional operating expenses and share option charges     2,016 1,302 54.8

Profit before tax     1,610 1,058 52.2

Profit before tax, amortisation, exceptional operating expenses and share option charges     1,912 1,204 58.8

Earnings per share – diluted (pence)      9.31   7.20  29.3

Adjusted earnings per share – diluted (pence)   10.26   7.77  32.0

Please click here for Preliminary Results for the Year ended 31 December 2007

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Registered Office: CBG Group plc, Barton Hall, Hardy Street, Manchester, M30 7NB
Place of Registration: England and Wales.
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