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Jelf looks for buy as turnover soars

Turnover has leapt by over half at Jelf Group for the 12 months to March this year.

Profits increased from 305,000 to 490,000 during the period while turnover rose by 53 per cent from 4.9m to 7.5m.

Earnings before interest, tax, depreciation and amortisation figure rose sharply from 472,000 to 824,000.

The figures come in an interim update from the firm as its financial year runs from September.

Jelf, which specialises in healthcare, commercial insurance, employee benefits and wealth management, bought IFA Goss Group last year, increasing the total of adviser numbers to around 50 registered individuals.

The company plans to grow organically but it is also continuing with its acquisition programme, aiming at insurance brokers.

Jelf says it sees an opportunity in the insurance broking market but no discussions have been confirmed as yet.

Chief executive Alex Always says: “The group has continued with its strategy of strengthening its market position by acquiring and consolidating intermediary businesses, along with extracting value through promoting organic growth activities across the group.”

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