Leading specialist motorcycle insurance broker MCE has reported a 4% revenue increase to £24.41m in latest full-year financial results to 31 May 2015. However, a Companies House filing also revealed that net profit fell by 19.1% to £37,893.
MCE, which increased its staff by 7.5% to 271 employees during the period, said that a new monthly premium payment plan charging interest had helped to drive revenue. Marketing initiatives had also played a part, presumably including ongoing high-profile involvement as title sponsor of the British Superbike Championship.
The statement concluded by adding: “The directors intend to increase turnover going forward by exploiting new opportunities in the insurance market and believe that the strong brand will help ensure these targets are met.”