StockMarketWire.com - Charles Taylor on Wednesday swung to a loss as a rise in revenue was offset by costs relating to investments. For the 12 months ended 31 December 2018, adjusted pre-tax profits, which excluded the cost of investments, rose 48% to £22.32m. When the impact of investments were included, the company reported a statutory loss of £3.3m compared with a profit of £7.4m a year earlier.

Revenue jumped 25% to £263.6m, led by strong growth in its claims management and insurance management segments of 12.6% and 12.3%, respectively.

Charles Taylor had a good start to 2019, and anticipated that our full year performance would be in-line with market expectations, the company said.

'We have consolidated our existing claims services related capabilities to create a joined-up claims services business with global scale and material growth prospects,' said David Marock, Group Chief Executive Office.

'We have also seen Charles Taylor InsureTech come of age as a sizeable, sustainable business with rapid growth prospects. '

'Our Insurance management business has continued to support the sustainable growth of its clients. The mutuals we manage are in strong financial positions, attracting and retaining a well-diversified underlying client base. ' At 10:04am: [LON:CTR] Charles Taylor PLC share price was +7p at 197p



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