28 Jan 2011 07:00
FOR IMMEDIATE RELEASE28 JANUARY 2011
Charles Taylor Consulting plc
TRADING STATEMENT
Charles Taylor Consulting plc ("CTC" or the "Company") announces a trading update for the year ended 31 December 2010.
Trading
Trading patterns to 31 December 2010 were broadly consistent with the trends highlighted within the Company's Interim Management Statement announced on 16 November 2010. The Adjusting Services division's performance was slightly weaker than expected, with a lower level of activity before the year-end than previously anticipated. Offsetting this is a better than anticipated post-tax result from the Group's share of the profits of its non-life insurance interests.
TheBoard therefore expects to announce earnings per share for the year ended 31 December 2010 in line with previous expectations, including lower tax and minority interests, while adjusted profit before taxation for the year is anticipated to be lower than previously expected.
Outlook
The Board continues to hold the view that the diversity of the Company's client base, the longevity of its many relationships and the opportunities available to it provide a solid base on which to build in 2011.
The Company will announce its results for the year ended 31 December 2010 on 30 March 2011.
For further information, please contact:
John Rowe, Group Chief Executive
020 3320 2200john.rowe@ctcplc.com
George Fitzsimons, Group Finance Director
020 3320 2263
george.fitzsimons@ctcplc.com
NOTES TO EDITORS
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.
This statement is based on information sourced from management accounts.
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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