21st Oct 2010 07:00
Jelf Group plc
("Jelf" or the "Group")
Trading Update
Jelf, an independent consultancy which provides a broad range of insurance, financial services and employee benefit services to corporate and individuals, will announce its preliminary results for the year ended 30 September 2010 in late January 2011.
The Board is able to provide the following trading update.
The Group has traded well during the period with results expected to be in line with market expectations. Despite difficult economic conditions and a soft and highly competitive market in commercial insurance, turnover has held up well with EBITDAE in line with expectations. Net debt has been reduced to less than £8m (including deferred consideration at less than £1m).
The Board believes that by focusing on client retention, new business and cost management the Group is returning to growth whist remaining cautious about the economic outlook.
For further information, please contact:
Jelf Group plc 01454 272713
Alex Alway - Chief Executive
Cenkos Securities plc 020 7397 8900
Stephen Keys
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JLF.L