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Pin to quick picksIntegraFin Holdings Share News (IHP)

Share Price Information for IntegraFin Holdings (IHP)

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Share Price: 343.00
Bid: 341.50
Ask: 343.00
Change: 0.00 (0.00%)
Spread: 1.50 (0.439%)
Open: 335.50
High: 343.00
Low: 335.50
Prev. Close: 343.00
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IntegraFin posts solid revenue growth, maintain final dividend

Thu, 14th Dec 2023 07:24

(Sharecast News) - IntegraFin reported total group revenue of £134.9m in its final results on Thursday - a slight increase from the prior year's £133.6m.

The FTSE 250 company said underlying profit before tax for the year ended 30 September was £63m, down from £65.8m in 2022.

However, the IFRS profit before tax showed improvement, reaching £62.6m compared to £54.3m in the prior year.

Underlying earnings per share stood at 15.2p, down from 16.3p in 2022, while the total dividend per share remained unchanged at 10.2p, consistent year-on-year.

On the operational front, the board noted continued strength and growth for the Transact platform.

The platform's adviser base increased 2% to 7,700 advisers compared to 7,500 in September last year, and the number of clients using the platform increased 2% to 230,000 at year-end.

IntegraFin said its digitalisation program, aimed at delivering operational efficiencies for the Transact platform, was progressing well.

Despite the competitive IT recruitment market, the recruitment of IT and software professionals was also advancing as planned.

Recruitment efforts would continue into the fiscal year 2024 in line with the company's intended total headcount additions.

Time4Advice, a subsidiary of IntegraFin, experienced strong growth during the year with reported revenue of £4.8m, up 22% year-on-year, while there was a notable 22% increase in chargeable users.

"I am pleased with the solid performance shown by the group during the past financial year - we have grown group revenue, client numbers, and adviser numbers, and delivered resilient net inflows over the period," said group chief executive Alexander Scott.

"This is attributable to the dedication of our staff in delivering a first-class service to our clients and their advisers.

"While the external market has been volatile, the UK adviser platform market remains healthy and is expected to grow well over the coming years."

Scott said IntegraFin was well-placed to take advantage of the market growth, adding that it was confident in its market position, despite the uncertainty in the wider economy.

"Above all, we remain focused on our goal of being the number one provider of software and services for clients and UK financial advisers."

At 0836 GMT, shares in IntegraFin Holdings were up 6.47% at 283p.

Reporting by Josh White for Sharecast.com.

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