NS&I reports record sales in 'flight to safety'

The state owned investments and savings provider says it has benefited from a ‘flight to safety’ amid the economic turmoil caused by the credit crunch. NS&I’s latest results show £13.8bn in net sales during 2007/08, giving a net financing contribution to Government funds of £5.9bn, more than double NS&I’s target of £2.8bn. Sales through Post Office branches have continued to perform well, accounting for 56% of all sales, while the direct channel has shown strong growth, accounting for around 39% of sales, or £5.4bn. In the first quarter of the 2008/09 financial year, gross inflows hav...