Abbey Legal reports 5% profit rise but warns of tough year
Legal and professional fees insurer Abbey Protection has announced 2011 revenues up 4% to £36.2m (2010: £34.9m) and pre-tax profits up 5% to £10.1m (2010: £9.6m).
The3 company reported a 4% increase in EBITDA to £10.7m (2010: £10.2m) and said its claims ratio was "steady" though slightly up at 65.2% (2010: 62.6%). Profit after tax rose a healthy 10% to £7.6m
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