S.A. Meacock and Company Limited is the first managing agency this year to report results for the close of the 2018 year of account as at 31 December 2020. It is often the case that the first results to be reported are good, and this profit, towards the top of the previously advised range, falls into the “good” category. The forecast for the 2019 year of account is unchanged from that issued as at 30 September 2020.

There is no forecast for the 2020 year of account at this stage, an initial forecast will be made following the end of the fifth quarter of development, as at 31 March 2021 and available to us in May.

The result and updated forecast for Syndicate 727 is as follows:

 

Year of account

Capacity
£000s

Result/Revised forecast Range

Previous Forecast
Range

Change at
Midpoint

2018

80,485

5.1% profit

-3.0% to 7.0%

2.1 points better

2019

80,554

-9.0% to 11.0%

-9.0% to 11.0%

unchanged

2020

84,837

No forecast at this stage

The year-end rates of exchange used for forecasts are US$1.37:£1 and Can$1.74:£1.

Results are expressed as a percentage of allocated capacity and are after all standard personal expenses but before the deduction of members’ agency fees and charges.