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Jelf profits rise 24%

Profits at the Jelf Group rose by 24 per cent in its first set of preliminary results since listing on the Alternative Investment Market last October.

The group made a profit of £880,000 in the year ended September 30 compared with £710,000 in 2003.

Operating margins increased marginally to 9.3 per cent compared with 9.1 per cent despite a year of heavy investment in the firm.

Jelf bought Pontin & Stein, a specialist private medical insurance business, in December 2003 for an undisclosed sum. Last November, it acquired intermediary Managed Healthcare for £150,000.

Chairman Christopher Jelf says: “During the period under review, further significant advances were made in line with the group’s strategy of creating a profitable, corporate niche in the financial sector.”

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