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Interim Management Statement

19 Nov 2013 07:00

RNS Number : 3341T
Charles Taylor PLC
19 November 2013
 



Date: 19 November 2013On behalf of: Charles Taylor plc ("Charles Taylor", the "Company" or the "Group")

Charles Taylor plc

Interim Management Statement

Charles Taylor plc (LSE: CTR), a leading international provider of professional services to clients in the global insurance market, today announces its interim management statement covering the period from 29 August 2013 to 19 November 2013 ("the period").

Management is pleased with the performance of the Group for the period covered by this statement.

Professional Services

The Group's core professional services businesses have performed steadily.

Management Services - provides end to end management of mutual insurance companies.Our Management Services business continues to deliver a consistent performance. The underlying mutual insurance companies that we manage continue to grow.

Adjusting Services - focuses on adjusting larger and more complex commercial losses.The business is performing well with steady levels of claims work. In addition, we have continued to invest in new people, offices and systems which offer prospects for future growth.

Insurance Support Services - provides stand-alone professional and technical services.The outlook for our smaller Insurance Support Services business remains challenging, as outlined at the half year. The integration of KnowledgeCenter is progressing as expected.

Insurers in Run-off

The Group's owned insurance companies continue to perform satisfactorily.

Finance

We have successfully completed the refinancing of the Group's senior term debt and revolving credit facilities for a term of five years.

Outlook

We expect a satisfactory overall performance for the year.

Commenting, David Marock, Group Chief Executive Officer, said:

"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."

ENDS

Enquiries: For further information:

Charles Taylor plc www.ctplc.com

David Marock, Group Chief Executive Officer: Via Redleaf Polhill

Mike Lord, Group Communications Director: Via Redleaf Polhill

Redleaf Polhill ct@redleafpr.com

Emma Kane/Rebecca Sanders-Hewett: 020 7382 4730

 

Notes to Editors:

About Charles Taylor plc

· Charles Taylor plc is a leading international provider of professional services to clients in the global insurance market. The Group has been providing professional services to insurance clients since 1885 and today has around 1,000 staff in 50 offices spread across 25 countries in the UK, the Americas, Asia Pacific, Europe and the Middle East.

· The Group offers services across the whole insurance market, principally on a fee-based model and operates through three professional services businesses - Management, Adjusting and Insurance Support Services. Charles Taylor also owns insurers in run-off.

This information is provided by RNS
The company news service from the London Stock Exchange
 
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