September 4, 2001 by Canadian Underwriter
Broker consolidator Vector Intermediaries (CDNX: VTE) is seeing its results continue to improve, if modestly, through the first half of 2001. Operating results were the best in Vector’s history and operating margins continue to improve, the company states in a press release.
Before tax earnings for the period are $732,164, or $0.03 per share, compared with $425,722, or $0.04 per share, for the first half of 2000.
However, revenue was down for the period, to $6,094,761, from $6,788,932 in 2000. And the company experienced a net loss for the period, to the tune of $710,761, or $0.06 per share. This is, however, an improvement on last year’s first -half loss of $1,268,806, or $0.14 per share.
The company continues to state its desire to expand it operations, which currently include 11 offices in four provinces. It has also concentrated on its Internet offerings though its local brokerages and the national site, insurancebroker.ca.