Profits rise at pensions provider

Strong new business momentum helped drive profit and revenue growth at pensions provider IFG during the first half of this year.

It reported pre-tax profits of £2.57m (€3m) for the first six months of this year. That figure was up by almost 13% on the same period last year.

Adjusted operating profit was up from £4.7m to £5m and a 5% annualised increase in group revenue, to £39.9m, was noted. IFG changed its reporting currency from euro to sterling at the beginning of 2011.