Profits up again at A-Plan

A-Plan has posted a 7% rise in profit after tax to £25.74m for the year ended 28 February 2017.

The results in a filing at Companies House also showed that operating profit was also up at £27.12m (2016: £25.62m).

Likewise turnover jumped by 12% to £84.32m.

The broker reported that it opened five new branches in the period taking its total to 86.

Targeted investment
According to the firm the progress was achieved through “targeted investment in marketing, new branches and the ongoing development” of specialty centres.

The document highlighted: “Growth was again driven by new business volumes expanding across all products, and underpinned with very strong renewal retention rates.”

CEO Carl Shuker told Insurance Age: “We are pleased with the result. It comes from a lot of hard work by colleagues across A-Plan.

“It is testimony to the strength of providing local advice. It shows the strength of the model and the value of providing advice to the consumer in an internet age.”

Adding: “It is about providing local service to local clients and spreading the word.”

Growth
Shuker revealed that the firm has grown again since the end of the financial period and has opened a further four branches since the end of February.

He confirmed there would be more to come at a steady rate in the months ahead.

And as for the financial performance since the numbers were collated Shuker concluded: “We are quietly pleased with the rest of 2017 and the way the business continues to progress and grow.”

For all the latest industry news direct to your inbox, sign up for our daily newsletter.