(Alliance News) - IntegraFin Holdings PLC saw its shares drop on Thursday as it noted some regulatory uncertainty caused by Brexit, though it reported improved annual results.
Shares in IntegraFin were down 9.1% at 547.00 pence on Thursday morning in London.
IntegraFin highlighted the new Investment Firms Prudential Regime due to come into force in January. The regime sets out post-Brexit regulations for investment firms.
IntegraFin said these rules will result in higher capital requirements, among other impacts, though it said it has planned for the regulation change and sufficient capital has been built up and retained.
For the financial year the ended September 30, the London-based financial services firm reported pretax profit rose 81% to GBP94.7 million from GBP52.3 million the previous year.
Funds under direction rose by 27% to GBP52.11 billion from GBP41.09 billion a year before.
Revenue also rose, increasing 15% to GBP123.7 million from GBP107.3 million. IntegraFin said this was predominantly generated by its London-based investment platform, Transact, but added that the acquisition of financial planning and wealth management firm Time for Advice also made a contribution.
"The positivity from the last three months of the 2021 financial year have continued in to the start of the new financial year," said Chief Executive Officer Alexander Scott. "However, much uncertainty persists, with Covid-19 and impacts of the end of the Brexit transition still emerging."
A second interim dividend of 7.0p was declared. This takes the total dividend for financial 2021 to 10.0 cents, up 20% from 8.3 cents.
By Heather Rydings; heatherrydings@alliancenews.com
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IntegraFin Holdings (IHP)