Business Irish

Sunday 24 September 2017

IFG profits soar 86pc as revenue jumps to £71.3m

IFG chief executive Paul McNamara
IFG chief executive Paul McNamara
Michael Cogley

Michael Cogley

Profits at Irish financial services increased by 86pc last year up to £8.6m (€10.97m) while revenue from James Hay and Saunderson House combined increased to £71.3m.

Adjusted earnings per share at the company increased to 8.14p, representing an increase of 51pc when compared with 2014.

The company has passed on the increase in earnings through a dividend. IFG proposed a final dividend of 3p per share, bringing the total dividend for the year up to 4.44p.

IFG chief executive Paul McNamara said the company now has a very clear focus since its restructuring was completed.

"We have two quality businesses with distinctive propositions in markets where we see continued growth opportunities. We have the capability and resources to meet the evolving needs of our clients, to sustain profitable growth, and deliver long-term shareholder value," Mr McNamara said.

The company's balance sheet strengthened with net cash of £27.3m, up from £23.4m last year.

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