IFG Group says trading so far this year in line with forecas

Monday 19 May 2014 11.27
IFG Group issues trading update for first four months of 2014
IFG Group issues trading update for first four months of 2014

Financial services company IFG Group has said that trading so far this year is in line with expectations and its businesses have had a good start to the year.

In an interim management statement for the months from January to the end of April, IFG said that revenue to date in its Irish business is growing.

It expects a return to reported profitability for the full year, it added.

Funds under management in its IFG Corporate Pensions grew to €979m at the end of April and and IFG secured 17 new clients so far this year.

IFG said its James Hay Partnership in the UK is maintaining its growth pattern, adding that the underlying fundamentals in its markets ae positive and the platform market is expected to grow "significantly" in the next three years.

Trading in its Saunderson House independent financial advisory business is also maintaining momentum and IFG described the rate of new clients as "very positive".  107 new clients were added so far this year, compared to 50 the same time last year and 154 for the full year. 

The company noted that it had made a number of senior appointments over the last 12 months, including the appointment of a new chief executive, Paul McNamara, who will take up the role in July.