Brokerbility posts mixed results for 2019

Firm reveals an increase in turnover but a drop in Ebitda for the year as it lists consolidation and Brexit as challenges affecting the business.

Brokerbility Holdings has reported a rise in turnover to £12.10m for the year ended 31 May 2019 (2018: £11.26m).

The business, which is the parent company of the Brokerbility network and Leicester-headquartered broker BHIB, also posted a profit after tax of £1.33m compared to £1.35m in 2018.

The figures showed a 7.5% increase in gross revenue to £12.1m, but also a 5.2% fall in Ebitda to £2.73m.

During the year staff numbers increased to 148 from 139 in the preceding year.

Consolidation
The figures were posted to Companies House and in its strategic review the business wrote: “On the back of a very pleasing previous year, the strong winds of consolidation (in both the broker and insurer landscape), economic and geo-political uncertainty, coupled with the ongoing saga of Brexit have all challenged different parts of our Group activities.”

It added: “Looking forward to 2019-20, agility and flexibility will dominate board thinking as we explore all options.”

Last month, BHIB launched a new insurance broker, Create Insurance, which provides flexible insurance for freelancers in the creative industries.

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