Admiral workers set to cash in on firm's record results
INSURANCE workers in Swansea are celebrating after another record performance by insurance giant Admiral.
Staff at the company will receive £1,500 of shares each thanks to the latest first half results, which revealed pre-tax profits rose by seven per cent to a total of £171.8 million.
Turnover also increased by six per cent to £1.17 billion.
Admiral employs around 1,800 people across sites in Swansea's SA1 and Swansea Vale districts. The company's chief executive, Henry Engelhardt, confirmed the latest results would mean a record dividend for shareholders.
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He said: "In the UK, following the very significant growth in 2010 and 2011, we continue to slow our rate of growth to a more modest level, which we believe is a sensible response to the increased competition in the market.
"I am particularly proud that Admiral was placed first in the recent Great Place to Work list for the UK and fourth in Europe, which is gratifying as the awards are based on what our employees themselves think about working for Admiral.
"Everyone here works incredibly hard to provide excellent customer service and make Admiral the success it is, and I'd like to thank all of the team in the UK, Spain, Italy, USA, France, Canada and India for what they have achieved.
"All in all, I am pleased with our performance in the first half of 2012 and we are on track to meet our 2012 expectations."
The latest results were welcomed by workers in Swansea, including former chef Iestyn Price, who has recently joined the company in the customer services department.
The 28-year-old, from Ystradgynlais, applied to work for Admiral in a bid for a career change. He said: "I heard good things about the place and a few of my friends work here in different departments.
"I was a chef for seven years and I got sick of working every Saturday and Sunday and every Christmas Day and Boxing Day.
"I wanted a bit of a career change and I hadn't really found it. I've only been here three months but I already feel settled here."
Fellow colleague Sara Griffiths has been with the business four years and also works in customer services at Admiral's headquarters in Langdon Road, Swansea.
The 25-year-old, from Neath, said: "I had heard a lot about Admiral and that they were really good to work for. I used to work for Excel and they went bust so I applied at Admiral, got the job and I've been here ever since."
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