UK - Trustee services and investment group Law Debenture has posted a 15.4% increase in trustee services revenue in the first half of 2006.
It said: "Our pension trustee business has had numerous new business enquiries and several appointments in the first half of the year, including the Royal Mail Pension Plan."
The firm said the increase in trustee and related services revenue, to £13.4m, came "as a result of continued growth in most areas of the business, arising from high levels of corporate activity". Pre-tax profit at the unit was up 18.1%.
"Law Debenture continues to be involved in a wide variety of capital markets transactions," it said.
"Existing clients have appointed us to new debt issues. Treasury Management has seen a number of new opportunities, particularly as facility agent and escrow agent.
"Our corporate services business has had a good start to the year, continuing to win appointments both in the structured finance market place and more widely in other capital markets transactions."
Total gross revenues rose 16% to 20.8m, with pre-tax profit rising 15.3% to £7.9m.
It will pay a dividend of 3.4 pence per share, up from 3.10p a year ago.
Net asset value return was 4.5%, compared to the FTSE Actuaries All-Share Index total return of 6.1% - due to a "low representation" of mining stocks.
Earlier this year the firm cut benefits for members of its own defined benefit pension scheme - despite £2.5m in extra contributions.
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