IHP.L

Integrafin Holdings Ltd.
IntegraFin Holdings - Q4 Trading Update
15th October 2024, 06:00
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RNS Number : 1297I
IntegraFin Holdings plc
15 October 2024
 

 

LEI Number: 213800CYIZKXK9PQYE87

 

 

15 October 2024

 

 

IntegraFin Holdings plc

 

Q4 Trading Update

 

IntegraFin Holdings plc ("IHP" or the "Group") operator of Transact, the UK's premium investment platform for clients and UK financial advisers, is pleased to update on performance for the three months ended 30 September 2024.

 

The Group delivered continued momentum with strong net inflows

 

 

Group highlights

 

·      Record quarter end funds under direction (FUD) on the Transact platform of £64.1bn, up 3% during the quarter and 17% over the past year.

 

·      Record average daily FUD of £63.0bn in Q4 FY24 (Q4 FY23: £55.0bn).

 

·      Strong Q4 FY24 flows to the Transact platform, with net inflows of £0.8bn, and gross inflows of £2.2bn. Net inflows represent 5.1% of opening FUD for the quarter annualised.

 

·    Total Group revenue is expected to be c.£145.0m for FY24 (FY23: £134.9m), driven by higher average daily FUD in the period.

 

·    A record high number of advisers registered on the platform growing 5% year on year to c.8.0k (Q4 FY23: 7.7k), in addition to a further 2% growth year on year in the client base on the platform with 235.0k clients registered at Q4 FY24 (Q4 FY23: 230.3k).

 

·    Time4Advice total chargeable users of CURO software at 3.1k, an 11% increase over FY23 (2.8k), in addition to operational and software development progress with the new CURO on Power Platform.

 

·  Guidance reiterated at interim results HY24 remains unchanged for FY24 (ending 30 September 2024).

 

 

Alex Scott, IHP Group Chief Executive Officer, commented:

 

"We have seen continued positive momentum with another strong quarter of net inflows. This quarter was the highest of the financial year for net inflows. Despite macroeconomic challenges and a period of heightened withdrawals in the sector we have delivered total net inflows of £2.5bn for FY24.

 

We have also reached record numbers of registered clients and advisers, as well as recording over £64bn of FUD on the platform at year end.

 

Our consistent growth is a strong proof point of Transact's long-term attractiveness to advisers which is grounded in, and driven by, our continued award-winning service and proprietary technology delivery.

 

The Group is well positioned for FY25 as a result of our platform proposition, structural growth drivers in the adviser platform market, and economic headwinds gradually receding. However, we remain cautious as we await the potential impact of the Autumn Budget and the outcome of the US elections on investor sentiment.

 

We look forward to providing our year end results on 18 December 2024."



Transact platform reporting for Q4 FY24

 

 

 

 

£m

Quarter ended 30 September 2024

Quarter ended 30 September 2023

Financial year ended 30 September 2024

Financial year ended 30 September 2023

Opening FUD

62,420

54,606

54,959

50,070

Inflows

2,162

1,595

8,104

6,406

Outflows

-1,370

-1,184

-5,595

-3,753

Net flows

792

411

2,509

2,653

Market movements

838

-62

6,565

2,272

Other movements(1)

15

4

32

-36

Closing FUD

64,065

54,959

64,065

54,959

Average daily FUD for the period (£m)

63,044

54,964

59,628

53,638

Number of registered advisers

8,048

7,683

8,048

7,683

Number of platform clients

234,998

230,294

234,998

230,294
Notes:(1)Includes fees, taxes and investment income

 

 


Transact platform historical information:

 

£m

Q1 FY23

Q2 FY23

Q3

FY23

Q4 FY23

Q1 FY24

Q2 FY24

Q3 FY24

        Q4 FY24

Opening FUD

50,070

52,063

53,973

54,606

54,959

58,010

61,020

62,420

Inflows

1,469

1,825

1,517

1,595

1,657

2,268

2,017

2,162

Outflows

-769

-900

-900

-1,184

-1,389

-1,478

-1,358

-1,370

Net flows

700

925

617

      411

268

790

659

792

Market movements

1,319

994

21

-62

2,786

2,196

745

838

Other movements(1)

-26

-9

-5

4

-3

24

-4

15

Closing FUD

52,063

53,973

54,606

54,959

58,010

61,020

62,420

64,065

Average daily FUD for the period (£m)

51,470

53,842

54,288

54,964

55,474

58,567

61,435

63,044

Number of registered advisers

7,632

   7,563

7,606

7,683

7,820

7,849

7,956

8,048

Number of platform clients

226,996

228,232

229,659

230,294

231,413

231,581

234,084

234,998

Notes:(1)Includes fees, taxes and investment income.

 

 

 

 

 

 

 

Enquiries:

 

Investors

 

Luke Carrivick, IHP Head of Investor Relations

+44 020 7608 5463

Media

 

IHP@fgsglobal.com

FGS Global: Mike Turner

FGS Global: Chris Sibbald

                            

+44 7775992415

                              +44 7855955531



 

 

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