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
|
£m | Quarter ended 30 September 2024 | Quarter ended 30 September 2023 | Financial year ended 30 September 2024 | Financial year ended 30 September 2023 |
| 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 |
Transact platform historical information:
| £m | Q1 FY23 | Q2 FY23 | Q3 FY23 | Q4 FY23 | Q1 FY24 | Q2 FY24 | Q3 FY24 | Q4 FY24 |
| 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 FGS Global: Chris Sibbald |
+44 7775992415 +44 7855955531 |
| | |
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