Business

Thursday 21 September 2017

Dublin-based financial services group IFG has experienced an improved performance in both revenue and operating results

Colm Kelpie

Colm Kelpie

DUBLIN-based financial services group IFG has said 2013 marked a turnaround for the business in Ireland, with an improved performance in both revenue and operating results.

In a trading statement from management to investors, bosses said ravene year-to-date is growing and they expect a return to reported profitability for the full year.

In its core business in Ireland, IFG Corporate Pensions, funds under management grew to €979m at the end of April and in the year to date.

IFG is a financial services group, based in Booterstown, Co Dublin, providing independent advice to for retirments planning in both the UK and Ireland.

Trading is in line with expectations in the first four months of the year.

“Our businesses have had a good start to the year,” the statement said.

“New business momentum has been sustained in our core businesses with James Hay Partnership, Saunderson House and IFG Ireland continuing to win new clients and assets.”

The group announced earlier in the year that it had agreed to sell its UK-based IFG Financial Services for an initial consideration of £3.5m, which could potentially rise by a further £5.6m if certain revenue targets are met.

Yesterday the group said the sale demonstrates the group’s focus.

Paul McNamara, the new group chief executive, is due to take up his post on July 28.

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