IFG Group says trading in line with expectations

Updated / Friday, 10 Nov 2017 17:49

IFG Group issues trading update for the 10 months to the end of October

Financial services company IFG Group has said that it continues to perform in line with management expectations. 

In a trading update for the ten months to the end of October, IFG said it has passed two major milestones so far this year - its total assets under administration and advice now total £30 billion and it now has more than 60,000 customers.

IFG provides a range of financial solutions through its subsidiaries James Hay Partnership and Saunderson House.

James Hay is a retirement wealth planning platform and Saunderson House is an independent financial advisor.

The company said the Bank of England's recent interest rate rise will not have a material impact on its James Hays business this year but will improve revenues and the operating margin next year.

"We remain confident that both businesses have grown momentum and strong fundamentals, which will lead to an improved financial performance next year," commented the company's chief executive John Cotter.

Shares in the company closed 2.76% higher in Dublin trade today at €1.86.