IFP back in surplus despite 'dreadful' year

Despite the 'dreadful' economic conditions, the professional body says improved sponsorship revenue helped it post a profit of £83,733 last year after recording a loss of £138,000 in 2008. It had anticipated a surplus of about £65,000. Loans totaling £75,000 made to the IFP by board members Jane Wheeler and Marlene Shalton to partially offset the 2008 deficit have been repaid in full. Wheeler, who is no longer on the board, loaned £25,000 while Marlene Shalton contributed £50,000. Wheeler received £1,625 interest on the loan, while Shalton received £3,250. The duo had loaned the or...