7 May 2014 12:28
IFG Group plc - Chairman's Statement
7 May 2014
2013 delivered a year of solid financial performance and targeted strategic progress for the Group. On 12th March 2014, we announced the sale, subject to regulatory approval, of our non-core traditional UK IFA business, IFG Financial Services. This has further enhanced our strategic focus and better positioned the Group to deliver on its growth strategy.
Our primary UK businesses, James Hay Partnership and Saunderson House, have maintained their momentum as both continue to grow their client and asset bases. In Ireland, 2013 marked a year of improved performance both in revenue and operating results.
In line with our strategy of focusing on the growth and development of our core businesses, we continue to invest in the business - in people, technology and operational capability. Over the past year, we have increased management strength and depth both at Group level and within the operating businesses. We were pleased to recently announce the appointment of Paul McNamara as Group Chief Executive and look forward to him joining on 28th July.
Trading year to date is in line with expectation and our businesses have had a good start to 2014. Our Interim Management Statement on 19th May 2014 will provide a further update on operational performance.
The Group is focused on its core business and is committed to investing in those businesses. Supported by a strong balance sheet, we are confident that IFG Group is well-positioned to create long term value for shareholders.
For further information, please contact IFG Group:
· John Cotter, Interim Chief Executive & Finance Director, Tel: +353 1 275 2800
· Niamh Hore, Investor Relations & Corporate Development, Tel: +353 1 275 2866
IFG Group plc
Booterstown Hall
Booterstown
Co. Dublin
www.ifggroup.com