Financial services group IFG has reported pre-tax profits of just over €7m for the first half of this year, up more than 60% on the same period last year. Total revenue grew from €42.5m to €50.8m.
The company said it had performed as expected after an improvement in its underlying business.
Basic earnings per share were up 73% to 8.9 cent and an 11% higher interim dividend of 1.05 cent has been declared.
The value of mortgage business brokered by IFG's Irish mortgage operation rose by 19% to €766m, but sales dropped in its Irish title insurance business. As a result, profits in the Irish mortgage and title division were flat at €1.8m.
The international trustee and corporate service business saw profits rise 8% to €3.4m, but IFG said conditions in its UK financial services division remained 'challenging', with profits flat. IFG's other Irish financial services businesses posted a profit of €500,000, after a loss of €400,000 a year earlier.
IFG shares finished unchanged at €1.98 in Dublin this evening.
