Finances improving at Oval despite £3m loss
The Oval Group is still making a loss but has improved its position on last year, according to the latest set of results.
The company made a loss after tax of £3m for the year to the end of May 2011 which was an improvement on 2010 when the company reported a £6.2m loss.
Net income increased slightly to £85m (2010: £83.6m) while EBITDAE decreased 7% to £15.3m (£16.5m: 2010).
However, the company’s operating profit, before amortisation and exceptional items, increased by 1% to £12.2m.
In the broking division, although turnover increased by £600,000, EBITDAE fell by £2.7m which the firm associated with the cost of
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