Charles Taylor Expects Satisfactory Full-Year Performance

LONDON (Alliance News) - Charles Taylor PLC Tuesday said it expects a satisfactory overall performance for the full-year, as its core businesses have performed steadily.

Charles Taylor, which provides professional services to clients in the insurance market, said its core professional services business have performed steadily overall, though the outlook for its insurance support services remains "challenging", as outlined at the half-year. The integration of KnowledgeCenter, after an acquisition that could be worth up to GBP7.1 million, is progressing as expected. Meanwhile its management services has performed consistently, with the underlying mutual insurance companies under Charles Taylor's management continuing to grow.

The company's adjusting services business is performing well, with steady levels of claim work, while Charles Taylor has continued to invest in new people, offices and systems which offer prospects for future growth.

"Charles Taylor has performed well in the period. We continue to develop new products and services for our clients which offer the prospect of future revenue growth. Our investment in new services and offices and the acquisition of KnowledgeCenter demonstrates our commitment to growing revenue and profit from professional services," David Marock, Chief Executive, said in an interim management statement covering the period from August 29 to November 19.

Charles Taylor shares were Tuesday quoted down 2.1% at 229.00 pence.

By Samuel Agini; samagini@alliancenews.com; @samuelagini

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