CE Heath improves to pounds 11m
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.THE INSURANCE broker C E Heath, one of Britain's largest, yesterday reported an improvement in operating profits for the half-year ending September.
Operating profits rose from pounds 8.9m to pounds 11.6m in the six months. The company said its insurance broking operations worldwide increased profits against the comparable period of the previous year by 59 per cent to pounds 5.8m.
This was despite a substantial fall in interest rates, although the group gained from favourable currency movements.
In overall terms brokerages increased by almost 11 per cent to pounds 56.6m and expenses by less than 4 per cent, but investment income was down almost 21 per cent.
In underlying terms, after adjusting for the beneficial impact of foreign exchange rates, brokerage increased by more than 3 per cent, expenses rose by less than 1 per cent and investment income was down 27 per cent.
There is an unchanged interim dividend of 5p.
Heath stressed that it had continued with its stated aim of reducing its involvement in underwriting by disposing of a substantial part of its shareholding in C E Heath International Holdings (HIH) in Australia.
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies
Comments