Sesame generated £5m profits in 2010
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Sesame Bankhall generated operating profits of £5m in 2010, compared to £3m in 2009, parent group Resolution’s results have revealed.
The figure reflects the combined profits of Sesame and the two firms it acquired in 2009, Bankhall and PMS.
Resolution says Sesame successfully completed the integration of these businesses in the first half of 2010 and the £5m result is after charging £1m of one-off integration costs related to the consolidation of offices.
Mike Biggs, chairman of Resolution Limited, says: “2010 was an important year for the company. The acquisitions we have made and the clear strategic plans we are implementing underpin the board’s confidence that the project will deliver its targeted mid-teens returns.”
John Tiner, chief executive officer at Resolution Operations, adds: “In the UK our restructuring and strategic repositioning continues. As we deliver operationally these businesses will generate valuable growth and cash rewards.”
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