Positive Solutions profit hits £10m

The figures show annual turnover increased by 33% to £98m, while operating profit rose by 36% from £7.9m to £10.7m, which Neil Johnson, chief executive of the firm, says is down to the “scalability of our business model”. In addition, the results reveal the number of IFA partners in the firm increased by 15% to 1,510, meaning turnover for each partner exceeded £70,000, while Positive Solutions says it paid out £11.5m to its partners through its Prophitshare scheme. And the company, owned by Aegon, says it is in a strong position for the long-term as at the end of 2006 it had £21.4m in c...