Pre-tax slip at PWS Holdings
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.PRE-TAX profits of PWS Holdings, the insurance broker, slid from pounds 2.9m to pounds 2.2m in the financial year ended 30 September, writes John Moore.
As the company announced a maintained final dividend of 2.5p net per share, it reported that after a difficult trading year it was too early to be precise about prospects, although the board was generally positive.
PWS specialises in reinsurance broking, arranging insurance cover for professional underwriters. Some 65 per cent of the group's turnover of pounds 14.7m is accounted for by its international subsidiary, PWS International.
The subsidiary was hit by a contraction of reinsurance capacity, which forced up premium rates. Even so, it increased its profits 'substantially' and continues to 'perform well,' according to the group chairman, Lord Pearson.
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies
Comments