View more on these topics

Life profit warning by Marlborough Stirling

Marlborough Stirling’s life and pension division has issued a warning over future profits.

The life and pension division of the IT systems provider warned that profits could drop by more than 10 per cent because of delays in securing new business contracts which would see turnover drop for this year to below £100m from £114.6m last year.

The future role of deputy managing director Sue Summers is unclear as her post is to disappear in a restructure. A board meeting for the life and pension business was being held on Tuesday morning.

Former director of strategy and major initiatives David Power was recently appointed as managing director of life and pensions due to the retirement of previous MD David Thomas.

Packaging arm Marlborough Stirling Mortgage Services is set to close once outstanding processing is completed.

In a trading statement, the life and pension division warned that some contracts would not be made until 2005. It says: “Should this occurit would mean that turnover for 2004 would not be significantly above £100m.”

Marlborough Stirling has also signed a 10-year deal with IT firm Pandi to outsource the upkeep and installation of its own computer hardware at head office in Cheltenham and four other locations.

PR manager Charlie Musson says: “There is a life and pension board meeting that is discussing restructuring. There is no news at the moment. With The Exchange, we have been pleased with business and the take-up from firms. There has been considerable interest from IFA firms.”


Charcol on verge of MBO

Bradford & Bingley is understood to be very close to agreeing a management buy out for Charcol. The bid is believed to include Charcol founder John Garfield and to have venture capital backing.

Re-launch of Skipton’s three-year capped rate mortgage

Skipton Building Society is relaunching its three-year capped rate mortgage by reducing the cap and the initial rate.The product is available at a 0.85 per cent discount for the first two years and a guarantee that the rate will not exceed 5.75 per cent before February 28 2008.The mortgage reverts to the society’s residential SVR […]


The Brunner Investment Trust – April 2017

Welcome to the latest update for The Brunner Investment Trust PLC from the Trust’s portfolio manager, Lucy Macdonald. Market Review Global equities have rallied over the first quarter of 2017, buoyed by signs of strengthening growth and optimism over company earnings, although this rally has faded towards the quarter end. US equities posted their strongest […]


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers. Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and thought leadership.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm