Cash injection boosts optimism

Towergate Partnership has predicted a 13% rise in 2008 income to £315m after renegotiating the terms of its long-term banking facilities.

Towergate reported continued growth in 2008 following strong new business sales in its preliminary headlines for the year ended 31 December 2008. Commission and fee income showed more than a 13% rise to approximately £320m, compared to £279m in 2007. This was driven by an increase in retail broking income of over 20% compared with 2007. EBITDA is anticipated t