(Alliance News) - IntegraFin Holdings PLC on Thursday reported a "robust" financial performance throughout its 2020 financial year, amid client inflows onto its Transact investment platform despite "extreme" levels of market volatility.
Pretax profit decreased 8.3% to GBP52.3 million in the 12 months that ended September 30 compared to GBP57.0 million the year prior, amid higher fee and commission expenses.
However, revenue increased by 8.2% to GBP107.3 million from GBP99.2 million in 2019. The company said this was due to it "continuing to generate positive net inflows, through our ability to attract new inflows and retain business already on the platform."
Funds under direction rose 8.7% to GBP41.09 billion from GBP37.80 billion, benefiting from GBP5.75 billion in grow inflows, up slightly from GBP5.70 billion the year before. Outflows eased to GBP2.16 billion from GBP2.20 billion. As a result, net inflows rose 2.6% to GBP3.59 billion from GBP3.50 billion.
IntegraFin declared a second interim dividend of 5.6p, taking the total full-year payout to 8.3p, which is an increase of 6.4% from 7.8p in 2019.
Looking ahead, IntegraFin said its outlook is heavily dependent upon the economic effects of the measures being taken against Covid-19 and that the environment in which it operates in has become more "difficult and unpredictable", seeming likely to remain the case in the coming months. Additionally, there is still little certainty on the shape of the UK's trading relationship with the European Union, despite coming to the end of the transition period, it said.
Shares in IntegraFin were up 1.8% at 517.00 pence in London on Thursday.
By Zoe Wickens; zoewickens@alliancenews.com
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IntegraFin Holdings (IHP)