17th May 2019 08:28
LONDON (Alliance News) - IntegraFin Holdings PLC on Friday hiked its interim payout following double-digit profit growth, helped by the attraction of new clients.
The investment platform said pretax profit increased by 20% to GBP22.4 million in the six months to the end of March from GBP18.7 million reported for the same period a year earlier, as revenue rose by 6.7% to GBP47.6 million from GBP44.6 million.
IntegraFin declared an interim payout of 6.4 pence, up 8.5% from 5.9p paid the year ago.
"Despite the backdrop of political uncertainty and stock market volatility, Transact has maintained strong positive first-half net inflows," said Chief Executive Ian Taylor.
Transact offers advisory professionals a comprehensive financial planning services.
Funds under direction fell in the first quarter of IntegraFin's financial 2019 due to "less than favourable" market conditions. However, the company noted that markets recovered lost ground in the second quarter, resulting in funds under direction at the end of the first half of 3.9% higher than at the 2018 financial year end.
The number of clients on the platform, meanwhile, increased by 8.8% to 173,000 at March from 159,000 last year. The number of advisers using the platform grew by 8.2% over the same period to 5,715.
Total operating expenses decreased by 3.1% in the first half, as the prior year interim results included GBP2.7 million of listing expenses. If these expenses are excluded, then operating costs climbed by 9.2% year-on-year, largely due to an increase in staff costs and regulatory and professional fees.
"We remain confident we are well placed to sustain growth as we move into the second half of the year," added Taylor.
IntegraFin shares were down 0.7% on Friday at 403.15p each.
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