Lycetts reports profit of £1.3m for 2019

Insurance broker and financial adviser Lycetts Holdings saw pre-tax profit rise to £1.3m for the year to December 2019. This is a year-on-year increase of £1.5m. Turnover for the same period rose to £22.7m, up from £21.6m in 2018.

CEO Charles Foster Lycetts, said: “This strong set of results was achieved against the backdrop of widespread business uncertainty and a weak growth rate for the wider UK economy.”

He added: “We will continue to pursue a balanced strategy of organic growth and targeted, value-adding acquisitions.”

Lycetts specialises in farm and estate insurance. It has 16 offices in the UK and is headquartered in Newcastle-upon-Tyne.

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