Investments bring downward pressure on profits at Bridge for 2024
Bridge Insurance Brokers has reported a drop in profits for the year ended 31 March 2024 as turnover fell 3% year-on-year.
Pre-tax profit before exceptional items fell from £896,000 to £699,000.
The Manchester-headquartered business flagged it had invested in “capacity, knowledge, governance structures and products” during the 12 months.
According to the Top 100 UK Broker, it has built operational resilience and opportunity meeting the demands of the changing market and regulatory environment while ensuring “breadth and depth in our portfolio diversification”.
It acknowledged that the investments contributed to a 10%
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