Lindsey Morden Group Inc. is reporting improved revenue for the second quarter ended June 30.
The insurance services holding company says revenue for the second quarter of 2001 increased by $10.8 million or 11% over second quarter 2000.
For the half year the increase was $23.6 million or 13% over the first half year of last year. Increased claims activity in all operating units and the launch of various new claims programs contributed to the growth in revenue.
Canada and U.K. operations reported improvements in operating earnings for the quarter and for the half year over 2000. The U.S. operations reported increased earnings for the second quarter and for the half- year earnings were lower than the first half year of 2000. Earnings from International operations for the quarter and for the half year were marginally lower than 2000.
After interest, goodwill and income taxes, the company’s net loss for the quarter was $2 million (loss of 14¢ per share) compared to a loss of $5.1 million (43¢ loss per share) in the second quarter of 2000. The net loss for the half year was $4.9 million (34¢ per share) compared to a loss of $11.7 million (99¢ per share) for the first half year 2000.