IFG on track despite the downturn
Friday, 6 November 2009 08:22Financial services group IFG has said its performance so far this year is in line with expectations despite difficult economic conditions.
In a trading update for the four months to the end of October, IFG said profits in its international division would be lower in the second half after a very strong first-half. This business provides trustee and corporate services, and IFG said it was 'encouraged' by the level of new business.
IFG said the UK division was delivering a strong performance, with its pension trustee business particularly strong.
But it said trading conditions in Ireland remained 'very difficult', and it expected its mortgage business to be loss-making in the second half of the year, though it reported 'solid' performances from its pensions and financial advice businesses.
