TBN to profit from softening market in 2005

The Broker Network (TBN) has blamed benign market conditions and time-consuming Financial Services Authority (FSA) applications for a slight decrease in enquiries from brokers last year, as it announced its first interim results since its flotation on the Alternative Investment Market in May 2004.

Generally, the network had a good year, with a 75% increase in turnover through organic growth and acquisition, an increase in operating profit (before goodwill amortisation) of 127% to £0.77m and a