The firm, which was acquired by Jelf in May 2018, provides insurance broking services to small and medium-sized (SME) businesses, with particular expertise in the agriculture, renewable energy, food and drink and retail sectors across Scotland
Newly filed accounts show the film, which also had a Dundee office, recorded sales of £12 million for the year ending April 30 2019, generating a profit of £1.85m.
The profit figure is a jump on the previous accounting period, which covering 13 months to April 30, in which the firm had revenues of £12.2m and a pre-tax profit of £860,000.
Jelf announced in September that it was to rebrand as Marsh Commercial.
In the account’s strategic report, Marsh Commercial’s chief finance officer, Oranye Emembolu, said on a consistent basis, turnover had increased on the prior year by £755,000 or 7%.
He said the firm’s expenses had reduced in the year due to its staff levels dropping from an average of 204 in 2018 to 185 last year.
Mr Emembolu said the insurance sector remained “highly competitive”.
“The focus for the company growth is to maximise business retention, develop new income streams, be disciplined around organic growth and gain supply chain value,” he said.
“The company commitment to community broking across Scotland is evident and is a significant differentiator for the company.”
Read the full article from The Courier online
Marsh Commercial
Marsh Commercial is a UK leader in SME insurance broking and risk management, helping clients understand and better manage their risks as well as protecting their assets and people.
