Towergate losses grow 52% as redundancy programme expands
Towergate has announced increased pre-tax losses for the first half of 2014, alongside adding an extra 100 staff to expected headcount reduction by year end.
The firm saw pre-tax losses increase 52% to £19.7m for the first six months of 2014, up from £13m in the same period of 2013.
The increased losses were driven by a 12% decline in operating earnings
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