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IFG says on track to meet targets

IFG trading update reports steady performance
IFG trading update reports steady performance

Financial services group IFG says it is delivering ''a steady'' performance against the backdrop of difficult economic conditions.

In an interim management statement, it said that driven by a strong first half and a marginally lower second half, the group is on track for the year as a whole.

IFG shares closed 4.8% higher at €1.10 in Dublin.

IFG said its corporate pensions and individual advisory business in Ireland has performed well in terms of client wins and profitability, despite the economic challenges and uncertainty.

It said that trading in the UK business is ''good'' with operating profit so far this year head of the same time last year in its two main businesses - James Hay Partnership and Saunderson House.

The company said that while annual administration fees have supported revenues in its international business, client activity has remained subdued.