This is seen in the first six months trading of 2005 and the company continues to expand its operation across all product ranges.
Highlights of the six month figures to the end of June 2005:
*Group turnover £25.3 million – 88 per cent up on last year, and on target to exceed £60 million in 2005.
*Increased Costs of 24 per cent.
*Profit £696,000 – 380 per cent up on last year.
*No debt - gearing (debt over equity shareholder funds) = 0
*Individual product lines (net income):
*Investments and Pensions – 312 per cent up on last year
*General Insurance – 137 per cent up on last year
*Mortgages – 201 per cent up on last year
*Protection – 40 per cent up on last year
Commenting on the figures Mike Allison, managing director of Personal Touch Financial Services, said: “This has been a tremendous first half year result for us. Everyone is aware of the changes the industry has gone through within the past few months and it is a credit to all people connected with the organisation that the business has continued to succeed during this period of change.
“Particularly pleasing is the way we have continued to positively manage costs throughout the period, predominantly due to the introduction of our revolutionary back office system.
“We are currently on target to exceed £60 million turnover this year, which makes us a serious player in the sector.
“We continue to work closely with our ARs, directly authorised firms and product provider partners to produce a formula that is beneficial for all concerned and at the same time retaining the ‘personal touch’ that has been a core feature of the business from it’s inception 11 years ago.”
He added: “As for the future, we will continue to work with our key accounts to help them grow their operations through support in key areas such as recruitment, lead generation, IT, training and the addition of new products to their own portfolios, so helping them to create their own financial services supermarkets.
“We are also keeping a keen eye on the marketplace and will seek other opportunities that will undoubtedly arise as a result of market rationalisation.”
