Profits drop by more than a third at Price Forbes

Independent broker Price Forbes reported a 36.1 percent drop in
operating profits to £4.7mn ($6.0mn) for the year ended 31
December 2015.
The Highbridge-backed firm filed annual accounts showing that
turnover increased by 11.9 percent to £61.6mn.
But the top line growth was offset by a 19.5 percent increase in
administrative expenses to £57.0mn.
EBITDA for the year was £5.9mn, compared with a 2014 figure
of £8.6mn.
The company said that underlying EBITDA was £