IFG Group (IR:IFG) promised meaningful profit growth in 2015 and it has delivered. James Hay (JHP) adjusted profits are up 26% on revenue growth of 13%. In H215 so far it has added 5,000 new SIPPS with the Capita and Towry deals delivering real franchise growth. Saunderson House (SH) saw strong franchise growth, although profits were affected by lower new business margin and a near quadrupling of regulatory charges to £1m. We have increased 2016e adjusted EPS by 7%.