Linea Direct announced that they have closed 2014 with a net profit of 94 million euros, an increase of 3.3% on 2013. CEO Miguel Angel Merino said that this is the fourth consecutive year of profitability, with profit before tax of 133.9 million euros, 4.25% more than the previous year.
In the period, premiums totalled 650.6 million euros, up 1.3%, breaking the negative trend of recent years due to the success of advertising campaigns and discounts for good drivers.
The total portfolio of insurance policies had exceeded 2.22 million customers (+ 6.3%), after adding 130,000 new policies. “2014 has been a good year all round,” stated the CEO.
Home insurance now caters for 332,000 policies (+ 19.2%) and 56 million euro turnover (+ 21.9%) reaching number 16 in the industry’s national ranking
Merino also said that the company now has put behind it “the worst years of the crisis” having achieved very strong results, with more customers and a better cost structure, developing the “necessary financial muscle” to face a new stage of growth.
The CEO has ruled that the company grow in the future through mergers or acquisitions since its intention is to focus its organic growth, as it has done so far. So he explained to acquire a company is a waste of resources and pointed out that, today, there is no entity with a similar profile Hotline.
He predicted that 2015 will be an “exciting and challenging” year
In which Linea Direct expects to show further growth in turnover, customer base and profitability.
Filed under: http://www.theleader.info/article/46585/
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