Permanent Health Co ekes out a small profit

Permanent Health Company Limited, which designs and markets health and travel insurance products in the UK, posted a modest profit of £66k (2010: £83k) in its financial statements for the year ended 30 June 2011. Turnover for the period was £13.5m up from £12.9m in 2010. Cost of sales impacted heavily at £12.2m against £11.8m in 2010. Overall premium income for the period increased by £582k to £13.5m. Margins, premiums less underwriters’ costs and commissions paid, have come under pressure and reduced from 11.2% to 10.4%. Cash and bank balances totalled £2.2m.