Towergate makes £18.7mn loss in Q3

UK broker aggregator Towergate has unveiled a £18.7mn pre-tax
loss in its interim statement for the third quarter of the year, as
its turnaround project continues.
The results also revealed a 10.3 percent fall in income, a 4.3
percent increase in expenses and a 50 percent drop in adjusted
Ebitda.
Each division lost money during the period, although the broker
noted improving income trends in broking and direct business.
These are the first interim results published since the group
complete