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AGM Statement

26 Jun 2013 12:15

RNS Number : 9094H
IFG Group PLC
26 June 2013
 



IFG Group plc - Chairman's Statement

26 June 2013

 

IFG Group plc ("the Group"), one of the leading provider of SIPPs (self-invested personal pensions) and transparent fee based financial advice in the UK and Ireland will hold its Annual General Meeting today. At the meeting, John Gallagher, Chairman, will make the following statement:

 

The Group made good progress in 2012 towards its strategic goals. The proceeds from the sale of the International segment were partly used to return £30 million to shareholders as well as de-gear the balance sheet, placing the Group in a very strong and flexible position.

 

In the UK, the management team was re-organised and expanded adding further strength and depth. In James Hay Partnership we reached net book growth while Saunderson House maintained its track record of winning and retaining clients.

 

New business momentum has continued into the current year in terms of new SIPP sales in James Hay Partnership and new client wins in both Saunderson House and IFG Corporate Pensions.

 

We intend to continue significant investment in the business. This will limit increased profitability in the current year but provide a platform for growth thereafter.

 

The fundamentals of our core businesses are sound. We have a strong balance sheet allowing us to invest in the business and we are confident of delivering substantial growth in the medium term.

 

Ends.

 

For further information please contact:

 

Mark Bourke Niamh Hore

Chief Executive Investor Relations & Corporate Development

IFG Group plc IFG Group plc

Tel +353 1 275 2800 Tel: +353 1 275 2866

 

 

IFG Group plc

Booterstown Hall

Booterstown

Co. Dublin

www.ifggroup.com

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
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