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IN Partnership members share in dividend payout

IN Partnership is paying its first dividend of 5p since it launched at the end of 2000.

Nearly two-thirds of the 500 network members are shareholders and will get payouts.

The group made a £1.229m profit in the year to June 30, 2006 on turnover of £28.62m. It expects turnover to reach £33m this year while profits are predicted to grow to £1.5m.

Group chairman Stanley Lovell says: “When we founded IN Partnership under an enterprise investment scheme, we always envisaged a true partnership with members so they could share in the rewards of any success in a tax-efficient manner.”

Davenport Financial Management managing director Malcolm Wanless says: “IN Partnership’s directors have gone quietly about building a solid and financially sound business. Many advisers will now reap the financial rewards.”


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Ship announces plans to appoint a director general

Ship has announced plans to appoint a full time director general and support staff to expand its resources after a strategic review. Previously all Ship activity has been completed on a voluntary basis by its members. Non-executive chairman Laurie Edmans says: “The decision to appoint a new full time director general represents a real advance […]

Luckraft fund may reopen

Axa Framlington is considering reopening George Luckraft’s £1.1bn equity income fund in response to IFA demand.The group soft-closed the fund in March 2005 by introducing a 5.25 per cent initial charge without discount to stem massive inflows into what was then a £700m vehicle.Head of UK retail sales Rob Bailey says the group recognises demand […]


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