The Jelf Group said group turnover increase 15% to £6.5m for the 12 months ending 31 December 2003.

Pre-tax profit grew to £750,000 before goodwill amortisation, it said.

Jelf said its results were boosted by two acquisitions during the year, with IFA company Richard Levinge Associates and commercial insurance operation Kallender Walwyn joining the group.

Looking to 2004, the company said its focus would be on developing its share of the corporate market. It said it was investing in a major restructuring programme to place customer relationship management at the core of its business.

Jelf Group chief executive Alex Away, said: “This year's annual results epitomize the Jelf Group's financial strength, with turnover and profitability both increased.

“The group is a strong, independent intermediary with many city institutions and blue chip companies as clients throughout the country. We are regionally very strong yet produce a punch at national level.”

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