IFG Group plc

Preliminary statement of results for the year ended 31 December 2014

  • Group restructured with sale of five businesses including the Irish pension and advisory business
  • Business is now focussed on the UK wealth platform and high net worth advice markets, with strong growth momentum and an enhanced capital position
  • Assets under advice and administration at year end up 9% to £20.1 billion compared to £18.5 billion at year end 2013
  • James Hay achieved net inflows of £1.0 billion, up 67% year on year, with assets under administration now reaching £16.4 billion. New SIPP sales up 24% to 6,303 (2013: 5,071) driving a 9% increase in total schemes to 47,079 at year end (2013: 43,154)
  • Saunderson House added 247 new clients, up 60% on 154 added in 2013. Revenue grew by 18% and assets under advice grew by 16% to £3.7 billion at year end (2013: £3.2 billion)
  • Sale of businesses generated £19.8 million, including £7.3 million in contingent consideration
  • Revenue from James Hay and Saunderson House combined increased 6% to £61.2 million (2013: £57.7 million)
  • Adjusted operating profit from continuing businesses of £7.9 million compared to £9.2 million in 2013
  • Profit before tax from continuing operations of £4.6 million (2013: £5.0 million)
  • Adjusted EPS of 5.40 pence (2013 re-presented: 6.82 pence); basic EPS of 0.64 pence (2013 re-presented: 4.69 pence) with the decrease due to tax write-offs on restructuring
  • Final dividend proposed of 2.73 pence per share, maintaining Sterling dividend pay-out
  • Balance sheet strengthened with net cash of £22.7 million (2013: £17.0 million)


Commenting on the results Paul McNamara, CEO of IFG Group plc, said:

"2014 marked a fundamental transformation of IFG Group as we exited non-core businesses and continued to invest for growth in James Hay and Saunderson House. We are strongly positioned with two profitable businesses in attractive markets and a strong liquid balance sheet to support further growth and investment. Based on our award-winning propositions to customers and the delivery of business efficiencies, we expect 2015 to deliver meaningful growth in Group profitability."

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