Profits
For Car Insurance Giants
Since floating on the stock
market last year, Admiral the car insurer
has recorded a record profit of £100 million. In its
first result since said floatation, it has given many of it’s
15 hundred staff in the Welsh cities of Swansea and Cardiff,
a fantastic cash bonus.
This record profit was set by December of 2004, meaning a
30% gain on the previous year and really sealed an altogether
great year for Admiral.
The reasons for such good end of tear business, was attributed
to the fact that the employees of Admiral, have an added interest
in working harder to make the sales in the business, thus
leading to more profit, more personal gain. This has got to
be a wise move giving the work force something to aim for
and not just hearing about the company they work for, making
massive profits that lead to directors and management being
the only ones gaining from all the hard work done by the ordinary
worker.
In September last year Admiral also sold off a part of the
business, to the value of 10%, this led to 1400 members of
staff receiving a payment from this due to the fact that they
were part of Admirals shared ownership scheme, which again
will lead to the workers adding more pride and effort to the
company.
Overall the £100 million profit was showing an improvement
of £22.8 million on the figures from the previous year,
which came in at £77.2 million, with another reason
for the sudden hike in profits being put down to surge of
people who have turned on the Internet in the search for better
car insurance deals.
With Elephant.co.uk and Diamond
under the umbrella of Admiral car insurance, many among the
900,000 customers that are on the books would probably not
realised that the other companies were one in the same.
With the huge strides that Admiral has made in the last year
and the incentives that they offer to their staff, lets hope
that they don’t rest on their laurels and to keep both
customer and worker happy as their main priority, if they
do this no doubt this record profit will be beaten into submission
at the end of this year.
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