Mortgages up by 111% at PTFS

Personal Touch Financial Services has released its six months trading figures, showing that mortgages is 111% up on H1 2005.

The results also show that group turnover was 35m, 36% up on H1 2005.

The network says it is on target to exceed 90m in 2006.

It made a profit of 1.1m which is 51% up on H1 2005 and there was no debt (debt over equity shareholder funds)

Investment and Pensions is 56% up on H1 2005, general insurance is 71% up on H1 2005.

Mike Allison, managing director at PTFS, says: This has been a tremendous first half year result for us.

“As we continue to offer a market leading proposition across all business areas, we are continuing to attract quality businesses in each sector

The pipeline of new accounts choosing to join PTFS is at record levels and this will have positive impacts on the second half trading results.

Given that pipeline, we fully expect to exceed 90m T/O by the year end. Especially pleasing is the increase in volumes coming from the Directly Authorised proposition, a relatively new area to PTFS

As many of the key accounts within Personal Touch are now shareholders themselves, this is great news for all concerned

Costs as a percentage of turnover remain below the targets we set ourselves and we continue to manage them carefully, predominantly due to our revolutionary back office system

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 its inception

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.