Refinancing costs bite as Ardonagh losses more than double and income drops
Ardonagh has reported a post-tax loss of £94.1m for the first six months of 2020 more than double the £41.8m deficit in the same period of last year.
This was mainly driven by a combination of one-off financing costs of £81.6m as the business restructured its debt and by a £5.7m decrease in the tax credit which more than wiped out the improvement
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