Admiral Group

Admiral reports 7pc decline in Q1 turnover

British auto insurer Admiral Group Plc reported a decline of 7 per cent in turnover for the first quarter of 2014, even as the number of customers jumped 6 per cent.

The Cardiff-based insurance group said its turnover slipped to 514 million pounds (nearly $865M) in the three months ended March 31, 2014, down from 551 million pounds in the corresponding three-month period of the previous year.

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Admiral’s pre-tax profit and customer base expands by 21% and 23% respectively

Admiral, the FTSE 100 car insurance group, enjoyed a more-than-expected 21 per cent jump in first-half pre-tax profit as the number of customers increased 23 per cent to almost 2.4 million during the period.

The Cardiff-based insurer said that it pocketed a pre-tax profit of £126.9 million during the first six months of the year to June, as compared with £105.3 million in the corresponding period of last year. The result was slightly higher than the average forecast of £124.3 million.

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Insurer Admiral Posts 5% rise in first-half profits

UK insurer Admiral Group has reported an 18 per cent increase in the number of customers to 1.92 million for the first half of the present year.

Diamond and elephant.co.uk car insurer Admiral has said that its half-year profits soared 5 per cent to settle at £105.3million. The company hiked interim dividend from 26p to 27.7p.

Henry Engelhardt, Chief executive of the company said the overall business continued to show strong growth and described Admiral as 'recession resilient'.

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