RNS Number : 7576Z
IntegraFin Holdings plc
16 January 2024
 

LEI Number: 213800CYIZKXK9PQYE87

 

 

16 January 2024

 

 

IHP Group quarterly update - Q1 of financial year 2024

 

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 31 December 2023.

 

The Group has continued to demonstrate solid momentum with continued growth of the Transact platform despite current market conditions.

 

 

Group highlights

 

·     Record quarter end funds under direction (FUD) on the Transact platform of £58.0bn, up 11% over the past year.

 

·      Record average daily FUD for the quarter of £55.5bn in Q1 FY24 (Q1 FY23: £51.5bn).

 

·      Record number of clients registered on the platform at 231k (Q1 FY23: 227k), in addition to continued growth of the adviser base on the platform with 7.8k advisers registered at Q1 FY24 (Q1 FY23: 7.6k).

 

·    Resilient Q1 FY24 flows to the Transact platform, with net inflows of £0.3bn, and gross inflows of £1.7bn.

 

·      Time4Advice demonstrating continued progress with total chargeable users of CURO software now at over 2.8k.

 

·    Guidance issued at year end FY23 remains unchanged for FY24 (ending 30 September 2024).

 

 

Transact platform reporting for Q1 FY24:

 

 

 

 

£m

 

  Quarter ended

31 December 2023

 

Quarter ended

31 December 2022

 

Opening FUD

54,959

50,070

Inflows

1,657

1,469

Outflows

-1,389

-769

Net flows

268

700

Market movements

2,786

1,319

Other movements(1)

-3

-26

Closing FUD

58,010

52,063

Average daily FUD for the period (£m)

55,474

51,470

Number of registered advisers

7,820

7,632

Number of platform clients

231,413

226,996

 

 

 

 

Alex Scott, IHP Group Chief Executive Officer, commented:

 

"I am pleased with the continued organic growth of our platform adviser and client numbers, demonstrating the success of our business model. Despite current market conditions, inflows remain resilient, and we have seen average daily FUD over the quarter increase to £55.5bn, with this being the main driver of Group revenues.

 

I was delighted to welcome Euan Marshall to the Group as our new Group Chief Financial Officer at the start of January. He brings extensive experience working as CFO of a UK listed financial services company and is a welcome addition to our leadership team.

 

Although the macroeconomic outlook is uncertain, our position in the market remains very strong. Transact is one of the leading adviser platforms in the market for service and functionality, and the Group benefits from consistent recurring revenues and economies of scale."

 

 

Transact platform historical information:

 

£m

Q2

FY22

       Q3

FY22       

       Q4

FY22

Q1 FY23

Q2 FY23

Q3

FY23

Q4 FY23

Q1 FY24

Opening FUD

54,539

53,500

50,300

50,070

52,063

53,973

54,606

54,959

Inflows

2,092

1,703

1,505

1,469

1,825

1,517

1,595

1,657

Outflows

-697

-703

-785

-769

-900

-900

-1,184

-1,389

Net flows

1,395

1,000

720

700

925

617

      411

268

Market movements

-2,376

-4,152

-927

1,319

994

21

-62

2,786

Other movements(1)

-58

-48

-23

-26

-9

-5

4

-3

Closing FUD

53,500

50,300

50,070

52,063

53,973

54,606

54,959

58,010

Average daily FUD for the period (£m)

52,551

51,889

52,217

51,470

53,842

54,288

54,964

55,474

Number of registered advisers

7,356

7,469

7,537

7,632

   7,563

7,606

7,683

7,820

Number of platform clients

218,787

221,992

224,705

226,996

228,232

229,659

230,294

231,413

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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