IFG Group on track

IFG Group continues to perform in line with management expectations with total assets under administration and advice increasing to £26.4bn, up 8% since 30 June(£24.4bn) and up 12% since December 2015 (£23.5bn).

Group chief executive John Cotter said: "The Group is on course to deliver a solid set of results. In aggregate, the Group is performing in line with 2015, with the quality of new business continuing to drive growth in Assets under Administration and Advice. Continuing market uncertainty, the impact of Brexit on client activity, and changes to interest rates are impacting the Group revenue growth trajectory.

"In particular, revenue growth has slowed in James Hay compared to 2015, and our continued investment in that business, together with the fall in interest rates, has lowered its profits compared to the prior year. Saunderson House continues to deliver meaningful growth in assets, clients, revenues and profits.

"Our strategic focus remains unchanged. The Group is well positioned with two profitable businesses, each serving clients with distinctive propositions in attractive segments of markets with strong underlying fundamentals. As we move into 2017 we are looking to accelerate the implementation of our strategy and will continue to invest in both businesses to position the Group for future growth."

At 9:50am: (LON:IFP) IFG Group PLC share price was -0.63p at 145.75p