Charles Taylor lifts dividend as interim profit jumps

28th Aug 2015 10:30

(ShareCast News) - Insurance services provider Charles Taylor posted higher interim profit and revenue, boosted by a steady progress in its management services.In the six months to 30 June, the London-listed group posted a 29.2% year-on-year increase I pre-tax profit to £5.3m, while revenue jumped 22% to £69.1m.The company, which launched a Lloyd's of London managing agency and acquired an international lifer insurer this year, added administrative expenses rose 22% year-on-year to £61.1m in the first quarter.In April, the group raised £28.9m after expenses in a rights issue, adding the funds will be used for acquisitions and investing into new joint ventures."We are currently evaluating a number of acquisition, joint venture and business investment opportunities which have the potential to be a good strategic, cultural and financial fit with the group's existing businesses," said group chief executive David Marock.He added the group had made a positive start to the second six months of 2015, with the management services and support services divisions both performing well.The company increased its interim dividend to 3.00p from 2.85p.Charles Taylor shares were down 2.68% to 236.00p at 1045 BST on Friday.