IntregraFin hails robust year, notes uncertainty ahead

IntegraFin Holdings hailed a "robust" set of numbers on Thursday, including a 3% improvement in net inflows, but warned that the current year remained dependent on the economic impact of the Covid-19 pandemic.

IntegraFin - the holding company for investment platform Transact - said funds under direction in the year to 30 September were ahead 9% year-on-year at £41.09bn. Gross inflows rose 1% to £5.75bn, while net inflows were 3% higher at £3.59bn.

The increase in net inflows was driven by a reduction in outflows in the second half, IntegraFin said. Outflows were £2.16bn for the full-year, compared to £2.20bn a year previously.

Revenue rose 8% to £107.3m, while operating profit attributable to shareholders increased 11% to £55.3m.

Chief executive Alex Scott said: "Given the events that unfolded over the second half of our financial year, we are very pleased to deliver a robust set of results."

However, looking ahead he added: "The outlook is clearly heavily dependent upon the economic effects of the measures being take to combat Covid-19 and their impact upon equity markets, funds under direction and flows.

"The operating environment has become has more difficult and unpredictable, and this seems likely to remain the case in the coming months. Additionally, there is still little certainty on the shape of the UK’s trading relationship with the European Union, despite the proximity of the end of the transition period."

As at 1045 GMT, shares in IntegraFin were trading 2% higher at 517.0p.