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KB Benfield profits drop 8.7 per cent to £1.23 million

KB Benfield saw its turnover rise 21.6 per cent to £26.7 million for the year to the end of March 2007. But pretax profits dropped 8.7 per cent to £1.23 million.

The company also announced it had changed hands during the year, following the death of its founder and long-term chairman Ken Benfield, in February.

Mr Benfield, who founded the company when he was 18, had remained as chairman until the age of 90.