TIDMIHP
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 GBP58.0bn, up 11% over the past year.
-- Record average daily FUD for the quarter of GBP55.5bn in Q1 FY24 (Q1 FY23: GBP51.5bn).
-- 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 GBP0.3bn, and gross inflows of GBP1.7bn.
-- 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:
Quarter Quarter ended
ended 31 December
GBPm 31 December 2022
2023
---------------------------- -------------- ----------------
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 (GBPm) 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 GBP55.5bn, 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:
Q2 Q3 Q4 Q1 FY23 Q2 FY23 Q3 Q4 FY23 Q1 FY24
GBPm FY22 FY22 FY22 FY23
----------------------------- -------- ------------ ------------ -------- -------- -------- --------- --------
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 (GBPm) 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 +44 7775992415
FGS Global: Chris Sibbald +44 7855955531
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