View more on these topics

Jelf Group announces interim results for the six months ended 31 March 2015

Jelf, an independent full-service UK-based brokerage that supports businesses and individuals, has announced its interim results.

Financial highlights

Strong financial performance continues:

  • Revenues 11.0 per cent ahead of last year at £43.7m (2014: £39.3m)
  • EBITDAE pre-share costs increased by 24.6 per cent to £8.1m (2014: £6.5m)
  • EBITDAE margin pre-share costs increased by 12.3 per cent to 18.5 per cent (2014: 16.4%)
  • Fully diluted earnings per share increased by 12.8 per cent to 1.67p (2014: 1.48p)
  • Interim maiden dividend of 0.8p

The business continues to be cash generative and £2.5m of debt has been repaid early:

  • Net debt is £27.6m (excluding deferred consideration, net debt is £15.2m) compared with net debt of £13.1m (excluding deferred consideration, net debt is £8.9m) at 31 March 2014 reflecting the acquisition of The Beaumonts Insurance Group in December 2014.

Operating highlights

  • Organic growth achieved of 4.2 per cent (excluding the impact of acquisitions)
  • The insurance business EBITDAE has increased by 18.2 per cent to £5.3m (2014: £4.4m)
  • Employee benefits EBITDAE has increased by 27.2 per cent to £1.7m (2014: £1.4m)
  • Financial planning EBITDAE has increased by 167 per cent to £299k (2014: £112k)
  • Margins continue to improve while at the same time investment continues to be made in both sales capability and infrastructure
  • Jelf Insurance Partnership delivered £5.2m of revenues (2014: £4.7m) and £762k of EBITDAE (2014: £550k); it is on track with expectations and capturing the expected synergies of the acquisition
  • The Beaumonts Insurance Group, acquired in December 2014, is trading strongly and capturing the acquisition synergies ahead of expectations
  • Awarded Investor in Customers highest ‘three-star’ accolade for client service for the third year running



Labour leader Ed Miliband resigns

Ed Miliband has resigned as Labour leader, effective following today’s VE day commemorations, after the party was hammered in the general election. Miliband’s party lost out heavily last night, retaining just a single seat in Scotland, while shadow chancellor Ed Balls lost his seat in Morley and Outwood. In a speech today, Miliband said Labour deputy […]


Dragonfly revamps residential refurbishment products

Dragonfly Property Finance has revamped its residential refurbishment products. Previously, the lender capped these loans at 70 per cent LTV, after the deduction of all interest accrued during the term of the loan. But now it has extended it to 75 per cent LTV excluding interest. The loans come with a 2 per cent arrangement […]


Media Spotlight: 5 Days in May, by Andrew Adonis

In the build-up to last week’s election, all the talk had been around which parties were going to make up the UK’s next coalition government.  The polls put Labour and the Conservatives neck and neck, leading most commentators to speculate about the make-up, and therefore the likely policy decisions, of the next government. Coalitions were […]


News and expert analysis straight to your inbox

Sign up

Why register with Mortgage Strategy?

Mortgage Strategy continues to be the market-leading B2B mortgage publication in the UK, and provides trusted, independent insight with the aim of helping, promoting and analysing the latest developments for mortgage professionals.

News & analysis delivered directly to your inbox
Register today to receive our range of news alerts including daily and weekly briefings

Mortgage Strategy Events
Be the first to hear about our industry leading conferences, awards, webinars and more.

Research and insight
Take part in and see the results of Mortgage Strategy's flagship investigations into industry trends.

Have your say
Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

Register now