(Alliance News) - IntegraFin Holdings PLC on Tuesday said it expects to report a slight growth in revenue for the financial year ended September 30 as funds under direction to its Transact platform grew in the final quarter.
The London-based firm, that owns the investment platform Transact, said closing funds under direction in the last four months of the financial year grew 9.8% to GBP54.96 billion from GBP50.07 billion a year prior.
Quarterly net flows fell by 40% however, to GBP2.65 billion from GBP4.40 billion in the fourth quarter of financial 2022.
IntegraFin also reported a "record number" of 230,294 Transact clients at the end of the year, up 2.5% from 224,705 a year ago.
Looking ahead, the firm said it expects to report a full-year revenue of GPB134.9 million, up marginally from GBP133.6 million the prior year, driven by higher average daily FUDs in the quarter, IntegraFin said.
Chief Executive Officer Alex Scott said: "I am pleased with the resilient performance shown by the IHP Group during the past financial year ended 30 September 2023... While outflows from the Transact platform, similar to our peers, have increased in the quarter as our clients continue to be impacted by cost-of-living pressures and heightened interest rates, I am pleased with the ongoing growth in our platform adviser and client numbers, with the latter now at a record high of over [230,000].
"We remain well positioned to take advantage of a growing adviser platform market and deliver attractive growth and returns to our shareholders."
IntegraFin will publish its full-year results on December 14.
Shares in IntegraFin were trading 1.2% lower at 212.80 pence each in London on Tuesday morning.
By Sabrina Penty, Alliance News reporter
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IntegraFin Holdings (IHP)