IntegraFin delivers solid H1 profit growth as client numbers rise

(Sharecast News) - Investment platform group Integrafin reported a double-digit increase in underlying earnings over its first half, helped by strong net inflows and favourable market movements.

The company, which operates the Transact platform for clients and UK financial advisers, said underlying profit before tax was up 16% year-on-year to £43.9m over the six months ended 31 March, while underlying earnings per share rose 14% to 10.0p.

Group revenue increased 11% to £85.8m, driven by higher average daily funds under direction, which rose 17% to £77.5bn.

Net inflows were 14% higher year-on-year at £2.4bn, which chief executive Alex Scott said was "driven by the strength of [Transact's] client service focused proposition and leading proprietary technology".

The Transact platform client base increased 6% to 254,667.

The company declared an interim dividend of 3.8p per share, up from 3.3p the year before.

"Three core levers drive our earnings growth: enhancements to our market-leading adviser platform proposition; our FUD and revenue growth dynamics; and our cost management initiatives. We continue to execute on all three levers to grow shareholder returns and we look forward to the second half of the year," Scott said.

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IntegraFin Holdings