IntegraFin profit up as funds under direction climb past GBP60 billion

(Alliance News) - IntegraFin Holdings PLC on Wednesday reported strong financial results for the ...

Alliance News 22 May, 2024 | 10:31AM
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(Alliance News) - IntegraFin Holdings PLC on Wednesday reported strong financial results for the first half of its financial year despite ongoing macroeconomic challenges.

The London-based holding company and operator of the investment platform Transact said pretax profit rose 16% to GBP32.4 million in the six months that ended March 31 from GBP27.9 million the previous year.

Revenue increased 6.9% to GBP70.4 million from GBP66.5 million.

This was achieved despite persisting high interest rates and the cost of living crisis in the UK, IntegraFin noted.

At 3.20 pence per share the interim dividend remains unchanged from last year.

Chief Executive Officer Alexander Scott commented: "Transact continues to grow its client and adviser numbers, as well as deliver resilient net inflows over the period. The record levels of client and adviser numbers also present us with a solid pipeline for future flows."

Funds under direction reached a record GBP61.0 billion on March 31, up 13% from GBP54.0 billion a year before.

The Transact advisor base grew by 4% to 7,900 people, whilst the number of clients using the platform increased 1% to 232,000.

IntegraFin said the platform benefitted from improvements made as part of its digitalisation programme, which delivered operational efficiencies and improved the user experience.

In addition, the company's Time4Advice financial advice technology business reported a 20% increase to its user base.

IntegraFin shares were up 12% to 349.50 pence each in London on Wednesday morning.

By Elijah Dale, Alliance News reporter

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Securities Mentioned in Article

Security Name Price Change (%) Morningstar
IntegraFin Holdings PLC 332.50 GBX 1.06 -

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