TIDMBPM
RNS Number : 0160K
B.P. Marsh & Partners PLC
10 December 2018
Date: 10(th) December 2018
On behalf of: B.P. Marsh & Partners Plc
Immediate release
B.P. Marsh & Partners Plc
("B.P. Marsh" or the "Company")
Investee Company Update - LEBC
LEBC REPORTS RECORD PROFITS AND CONTINUED STRONG GROWTH
The Company notes that its Investee Company LEBC Holdings
Limited ("LEBC"), in which it holds a 59.34% shareholding, has
today announced its Annual Results for the twelve months to 30
September 2018.
During the year LEBC's revenue grew 13.1% to GBP20.5m (2017:
GBP18m) and trading profit grew 43.0% to GBP4.3m (2017: GBP3m).
These figures do not include Aspira, the acquisition that LEBC
completed in January 2018.
This is the tenth year of profit growth for the company, driven
by organic growth of LEBC's 'Foundation' and 'The Retirement
Adviser' businesses. As stated in the Company's announcement on 16
October 2018, LEBC is considering options for a potential
shareholder liquidity event, alongside strategies to further
accelerate growth.
Jack McVitie, Chief Executive Officer of LEBC said: "LEBC is
well placed to adapt to ever-changing circumstances. We have a
proven business model, and we continue to refine our processes and
systems so that we can deliver the highest levels of advice and
client service."
Brian Marsh, B.P. Marsh Chairman, commented: "This excellent
result demonstrates the strength of LEBC's business model and the
skill and commitment of its management team. We continue to be
confident in LEBC's prospects."
For further information please contact:
B.P. Marsh & Partners Plc www.bpmarsh.co.uk
Brian Marsh OBE / Camilla Kenyon +44 (0)20 7233 3112
Panmure Gordon
Atholl Tweedie / Charles Leigh-Pemberton +44 (0)20 7886 2500
Notes to Editors:
About B.P. Marsh & Partners Plc
B.P. Marsh's current portfolio contains eighteen companies. More
detailed descriptions of the portfolio can be found at
www.bpmarsh.co.uk.
Since formation over 25 years ago, the Company has assembled a
management team with considerable experience both in the financial
services sector and in managing private equity investments. Many of
the directors have worked with each other in previous roles, and
all have worked with each other for at least five years.
Prior to Brian Marsh's involvement in the Company, he spent many
years in insurance broking and underwriting in Lloyd's as well as
the London and overseas market. He has over 30 years' experience in
building, buying and selling financial services businesses,
particularly in the insurance sector.
Alice Foulk joined B.P. Marsh in September 2011 having started
her career at a leading Life Assurance company. In 2014 she took
over as Executive Assistant to the Chairman, running the Chairman's
Office and established herself as a central part of the management
team.
In February 2015 she was appointed as a Director of B.P. Marsh
and a member of the Investment Committee. In January 2016 Alice was
appointed Managing Director of B.P. Marsh.
In her position as Managing Director, Alice is responsible for
the overall performance of the Company and monitoring the Company's
overall progress towards achieving the objectives and goals of the
Company, as set by the Board.
Dan Topping is the Chief Investment Officer of B.P. Marsh,
having been appointed as a Director in 2011. He joined the Company
in February 2007, following two years at an independent London
accountancy practice. Dan is the Senior Executive with overall
responsibility for the portfolio and investment strategy of B.P.
Marsh.
Dan graduated from the University of Durham in 2005 and is a
member of the Securities and Investment Institute and the Institute
of Chartered Secretaries and Administrators.
Dan is a standing member of the B.P. Marsh Investment and
Valuation Committees and currently serves as a Board Director
across the portfolio.
Camilla Kenyon (Millie) was appointed to the main Board in 2011,
following her appointment as Head of Investor Relations in 2009.
She has dual responsibilities within the Group, running both
Investor Relations and the New Business Department and is Chair of
the New Business Committee evaluating new investment
opportunities.
Millie is nominee director in one investee company and is a
member of the Investment Committee. She has over 20 years of
experience in the financial services industry, including numerous
Board appointments and is a Member of the Investor Relations
Society.
Jonathan Newman is a Chartered Management Accountant and is the
Group Director of Finance and has over 20 years' experience in the
financial services industry. Jon graduated from the University of
Sheffield with an honours degree in Business Studies and joined the
Group in November 1999, following two years at Euler Trade
Indemnity and two years at a Chartered Accountants. Jon is a Member
of the Chartered Global Management Accountants, the Chartered
Management Accountants and the Chartered Institute of Securities
and Investment.
Jon was appointed a Director of B.P. Marsh & Company Limited
in September 2001, and Group Finance Director in December 2003 and
was instrumental in the admission of the Group to AIM in February
2006. Jon is a member of the B.P. Marsh Investment and Valuation
Committees and currently serves as a Board Director for Walsingham
Motor Insurance Limited, and provides senior financial support and
advice to all companies within the Group's portfolio as well as
evaluating new investment opportunities.
- Ends -
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END
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