Towergate's Ebitda climbs 12% on back of restructure


The group's 2016 results revealed a growth in adjusted Ebitda from £75.2m to £84.2m, even as full year revenues declined 4.4% to £324.6m in 2016 from £339.6m the previous year. Staff-related expenses fell £24.4m. The company last year closed its Manchester retail unit, making 176 roles redundant. It is also consulting over 133 jobs in its finance department as part of a further restructure. Towergate group CEO David Ross, pictured, said: “Today is a milestone moment for Towergate as we clos