19 May 2011 07:00
Interim Management Statement
FOR IMMEDIATE RELEASE
19 MAY 2011
Charles Taylor Consulting plc ("CTC" or "the Company")
INTERIM MANAGEMENT STATEMENT
Today's interim management statement for the period 1 January 2010 to 19 May 2011 ("the period") is made in accordance with the UK Listing Authority's Disclosure and Transparency Rules.
Overall business performance, financial position and outlook remain as highlighted in the 2010 results, with the group solidly based for further development. Results for the period are generally as expected, with a slightly slower start to the year in some parts of Adjusting Services, mostly offset by other parts of the business. The Board's expectations for the full year are unchanged, although it is expected that 2011 earnings will be weighted towards the second half of the year compared to 2010. In particular, the Management Services division's second half will contain more than half of the year's Signal contract revenue under the new fee agreement and a full six months of the new Standard Club fee, while the Insurance Support Services division's second half will include a full six months of static claims revenue.
For further information, please contact:
John Rowe, Chief Executive George Fitzsimons, FinanceDirector020 3320 2200 0203320 2263john.rowe@ctcplc.com george.fitzsimons@ctcplc.com NOTES TO EDITORS
1. Charles Taylor Consulting is a leading provider of insurance services. We manage mutual insurance companies, advise insurers on complex insurance losses and provide administration and consultancy services to insurers and insureds worldwide. We also own life and non-life insurance companies which are closed to new business. Further information on the group can be found at www.charlestaylorconsulting.com.
2. This statement is based on information sourced from management accounts.
3. Statements made in this announcement that look forward in time or that express management's beliefs, expectations or estimates regarding future occurrences are forward-looking statements within the meaning of the United States federal securities laws. These forward-looking statements reflect the group's current expectations concerning future events and actual results may differ materially from current expectations or historical results.
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