(Alliance News) - IntegraFin Holdings PLC on Thursday said it will report profit ahead of its estimates following cost reductions resulting from accounting updates.
The London-based investment platform said in a trading update ahead of its full year results that it expects to report adjusted pretax profit "moderately above" the top end of analyst consensus estimates.
The uplift reflects IntegraFin's "latest accounting updates". With these updates the company now estimates that total revenue will be around GBP133.5 million for the year that ended September 30.
Net interest income is expected to be around GBP600,000 due to "interest rate tailwinds".
Staff costs are expected to be GBP700,000 lower than the guidance released in July 2022 while occupancy costs are expected to be GBP300,000 lower.
Tax recoveries relating to life insurance is expected to result in a GBP200,000 credit while recoveries from research and development will result in a credit of GBP300,000
The cost guidance for the 2023 and 2024 financial years remains unchanged.
Shares in IntegraFin were trading 5.1% higher at 285.00 pence each in London on Thursday around midday.
By Chris Dorrell; chrisdorrell@alliancenews.com
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IntegraFin Holdings (IHP)