Ifg Share News (IFP)

Financial advice and administrative services group IFG Group expects adjusted earnings per share for the full year to in line with market forecasts of 18 to 20 cents, despite tougher trading in some of its overseas markets.In the UK, which accounts for around 55% - 60% of group profits, the pensions administration business traded robustly in the first nine months of the year. The integration of recent acquisition James Hay is proceeding according to plan and in many instances is ahead of schedule.The fee-based advisory business, Saunderson House, expects to be ahead of plan by year end. On the international side, the Trustee and Corporate Services arm performed satisfactorily, and has maintained margins despite intensifying price competition.However, in the third quarter slower levels of activity were seen in some centres, notably Cyprus and Switzerland. As a result, IFG International is expected to be 8% to 10% behind expectations for the full year. Net debt, expressed in millions of euros, is expected to be in the mid-teens at the end of the year, compared to €44.4m at the end of 2009.