REG - IntegraFin Holdings - Q4 Trading Update

Integrafin HoldingsAnnouncement

15/10/2024 07:00

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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

 

                                         Quarter ended 30 September 2024  Quarter ended 30 September 2023  Financial year ended 30 September 2024  Financial year ended 30 September 2023

 £m
 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       Q4 FY23         Q1 FY24  Q2 FY24  Q3 FY24          Q4 FY24

                                                              FY23
 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                         +44 7775992415

 FGS Global: Chris Sibbald                                                     +44 7855955531

 

 

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