LifeSearch reports significant business growth for 2019

LifeSearch reports significant business growth for 2019

Continued investment in people, service, brand and tech drives 29% profit growth 

LifeSearch Holdings Limited recorded an exceptional year of growth and profits after substantially increasing the number of families it protected.

The results for the year to 31st August 2019 reflect the investment in people, service standards, digital presence and technology that LifeSearch continues to make. Turnover, gross profit and EBITDA* grew by 28%, 29% and 53% respectively, significantly higher than the 10% growth in profits seen in 2018.

Over 100,000 families were protected by LifeSearch during the year, representing an increase of just under 22% on the previous year. A newly launched website in November 2018 aided a 48% year-on-year rise in website visitors.

Key results:

• 28% increase in turnover to £43,163,441
• 29% increase in gross profit to £10,917,165
• 53% increase in EBITDA to £3,535,210
• 135% increase in profit before tax to £2,389,570

Commenting on the results, Tom Baigrie, founder and Chief Executive of LifeSearch, said: “We are very proud of what we have achieved in the last year. It’s the result of significant investment in our people, brand, technology, digital infrastructure and operational efficiency. We continue to empower our people to take personal responsibility and great care in their roles, helping everyone to feel personally invested in the business. This filters through to every individual we help protect, resulting in consistently high levels of positive customer feedback and retention. Therefore, I am delighted that this year we have been able to reward our people with the highest ever partnership dividend, paid to every employee after three years’ service.

“Our strong and dedicated teams along with our position as the business partner of choice for the UK’s leading brands in protection enable us to continue to successfully deliver on our purpose as a business – to help financially protect as many families as we can, in the way we know is best for them.”
 
-Ends-

 

Notes to editors

*EBITDA - earnings before interest, taxes, depreciation and amortisation
 
For further information please contact:

Kevin Carr, Carr Consulting and Communications
kevin@carrcandc.co.uk / 07887 838811

Dan McMillan, Carr Consulting & Communications
Dan@carrcandc.co.uk / 07531 243852

About LifeSearch

Most know it as life insurance, we call it protecting families. And since 1998, LifeSearch has protected hundreds of thousands of UK families from the financial fallout of disability, critical illness and death.
 
Over 21 years, LifeSearch has grown into the UK's biggest life insurance adviser, offering expert, independent advice to customers around life insurance, critical illness cover, income protection, family income benefit, serious illness cover and business insurance
 
In two decades, LifeSearch has picked up hundreds of awards for its culture, expertise and customer service. Boasting a TrustPilot score of 4.9 (excellent), the company is ranked number #3 in the Sunday Times' 2019 list of Best Places to Work.

LifeSearch is an appointed representative of LifeSearch Partners Limited, who are authorised and regulated by the Financial Conduct Authority. 

www.LifeSearch.com