Charles Taylor Share News (CTR)

(Sharecast News) - Charles Taylor reported a 25% surge in its revenues in its unaudited results for year ended 31 December on Wednesday, to £263.6m.The London-listed firm said its adjusted EBITDA was ahead 38% to £31.5m, and its adjusted profit before tax rose 48% to £22.3m.On a statutory basis, the company did swing to a loss before tax of £3.3m, from a profit of £7.4m in the prior year.Annual average net debt was 49% higher at £58.9m.Charles Taylor said its adjusted earnings per share were ahead 6% at 26.22p, while it swung to a basic loss per share of 4.94p from earnings of 13.14p.The board confirmed a 5% uptick in the dividend per share to 11.56p.On the operational front, the company said it "refined and clarified" its growth strategy during the year, making it more understandable to all stakeholders.It also consolidated its existing claims services-related capabilities to create an integrated claims services business, with what the board described as "global scale" and material growth prospects.Charles Taylor said it achieved material organic growth through the recruitment of "top talent" and "significant" client wins.It also acquired claims services businesses, extending its global footprint.The board also said it built a "sizeable, sustainable" InsureTech business with rapid growth prospects, having won "substantial" insurance technology contracts, building enhanced credibility in the market.Charles Taylor also acquired an insurance technology business, which the directors said strengthened its owned intellectual property and extended its client base globally."I am pleased to report significant progress on executing our strategic objectives," said group chief executive officer David Marock."This year, we have refined and clarified our growth strategy, making it more understandable to all stakeholders."We have consolidated our existing claims services related capabilities to create a joined-up claims services business with global scale and material growth prospects."Marock said the firm had 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."Charles Taylor was taking forward numerous growth initiatives, Marock added, with the firm's investments said to be delivering good results overall."We are confident that our strategy will deliver further growth and returns to shareholders."