Specialist broker THB Group has announced a very positive year’s trading with significant growth in turnover and improved margins.
The results for the year to 31 October 2009 show an 18% increase in fee and commission income, and a 43% year-on-year increase in broking profit.
At his first full year results announcement as Group Chief Executive, Frank Murphy said: “We are proud of this result, achieved despite markets not hardening as many predicted and interest rate reductions meaning significantly lower investment returns. Whilst external factors like harder rates, a more beneficial investment environment and the stronger US dollar are all potential upsides to THB in the next year, we are concentrating our efforts on factors within our control – driving growth and margins. THB has significant potential which this management team is determined to unlock.”
