The Sesame Bankhall Group generated operating profits of £2m in the first six months of the year, compared with a loss of £1m recorded in H1 2009.
IFA network giant Sesame acquired support services provider Bankhall and mortgage adviser PMS in October last year. First half results for Friends Provident's distribution businesses include £1m in one-off integration costs related to the consolidation of offices. The 2009 half-year comparative includes a contribution of £1m from Pantheon Financial, which was disposed of in March 2010. In 2009, Sesame Bankhall's distribution propositions contributed £4m operating profit. Friends Provident today said UK pre-tax profits on an IFRS basis were £128m, up from £36m in H1 2009.
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