AWD UK, which now encompasses AWD Chase de Vere alone, turned a profit last year for the first time since 2006 following a restructure of the business.
AWD Group says its UK business generated revenue of €43m (£38m) last year and earnings before interests and taxes (EBIT) of €1.2m (£1.06m). This followed losses totalling €7.9m (£7m) in 2008 - when AWD Chase de Vere was fined £1.12m for "serious failings" on its pension advice and sales - and a loss of €3.5m (£3.1m) the year before that. The company generated a profit of €3.7m (£3.3m) in 2006. AWD Group, which posted operating profits of €12.6m before one-time and restructuring expenses totalling more almost €54m in 2009, says the UK was "particularly" hard hit by the banking crisi...
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