IntegraFin posts record profits as Transact sees highest ever net inflows

IntegraFin Holdings posted record interim profits on Thursday thanks to a strong performance from its Transact platform.

In the six months to 31 March, pre-tax profit rose 12% to £31.2m on revenue of £59.4m, up 10% on the same period a year ago. Platform pre-tax profit was up 19% to £30.7m. Meanwhile, earnings per share rose 9% to 7.5p.

IntegraFin declared an interim dividend of 3p a share, up from 2.7p the year before.

Funds under direction grew 34% to £46.93bn, gross inflows increased 15% to £3.73bn and client numbers were up 7% to 201,000.

Chief executive officer Alex Scott said: "We are pleased to announce our results for the first half of the year. Demonstrating our strength and continuing growth, we have delivered record first half year profits.

"Our Transact platform has again seen its highest ever gross and net inflows over the period. Coupled with increased confidence in world equity markets, driven by the positive outcomes from Covid-19 vaccination programmes, these flows have helped drive growth in funds under direction, generating record revenue in the period. This helps support our approach of delivering continuous improvement in price to clients, as our fees have once again been reduced to make our service even better value for money."