National IFA Millfield Group's losses have fallen 4.5 per cent to £5.6m in the six months to September 2003, from £5.9m for the same period last year. The Aim-listed firm saw turnover for the period increase 65 per cent to £23.5m for the six months to September 2003, from £14.2m for the same period in 2002.
The firm has also agreed with Norwich Union for the insurer to invest £10m in the Lifetime wrap venture. Under the deal Millfield receive £800,000 in this accounting period and a further £1.4m in the next.
Millfield chairman Richard Mansell-Jones says: “The economy and the investment markets have stabilised though there is still considerable change to occur across the financial services market.
We have built a strongly based group and I am confident that, with the quality of people we have and are attracting, we will continue to deliver our plans.”