IntegraFin reports higher annual profits as funds under direction rise

IntegraFin on Thursday reported a rise in full year profits after a 27% rise in funds under direction.

The company said pre-tax profit rose to £63.1m for the year to September 30, compared with £55.3m a year ago. Funds under direction came in at £52.1bn.

Gross inflows for the year were up 34% to £7.70bn. Revenue increased 15% to £123.7m driven by IntegraFin’s Transact platform, although its purchase of Time for Advice has made a contribution since January.

“The positivity from the last three months of the 2021 financial year have continued in to the start of the new financial year. However, much uncertainty persists, with Covid-19 and impacts of the end of the Brexit transition still emerging,” said chief executive Alex Scott.

An interim dividend of 7p a share was declared, for a total of 10p a share, up from 8.3p last year.