09/07/2007
After-event insurer Litcomp turned £580,000 losses into an £830,000 pre-tax profit in the year to March.
AIM-quoted Litcomp. which also supplies medico-legal reports and litigation services, more than doubled its turnover to £6.23 million in 2006-07 and increased gross premium income to £4.4 million. Since the year-end, the company's Elite insurance arm has increased its underwriting capacity by agreeing a reinsurance programme with an 'AA-minus rated reinsurer'.
Chairman Douglas Smith said Litcomp’s prospects ‘look excellent’. At 67.5p, up 5p today, the shares could have further to go.
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| AIM | £2.02m |
33.00p
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