IntegraFin hikes dividend as profits climb, new CEO appointed

The financial advisory platform's profit before tax came in at £56.1m for the 12 months ended 30 September, a 21% increase on the year before, as fee income climbed by 9% to £99.2m. The company hiked its total dividend by 22% to 7.8p per share.

Funds under discretion rose 14% to £37.8bn as the FTSE 250 group ended the year with 179,500 clients, up 8% on the same period 12 months ago.

Gross inflows declined by 4% to £5.7bn and net inflows were 15% lower, but the company said the rate of outflow had "remained within its expected and historically predictable range".

Chief executive Ian Taylor said: "With the shape of the UK following an exit from the European Union still anybody's guess, it is very difficult to frame an outlook.

"Nevertheless, whatever happens, people will continue to need to manage their financial plans and so we will continue to improve Transact, maintain our excellent customer relationships, keep recruiting the best staff and remain sober in our spending."

IntegraFin also announced that group director Alex Scott will become chief executive from 2 March, replacing Taylor, who will remain in place as an executive director of the company. Jonathan Gunby will become an executive director of IntegraFin and chief executive of Integrated Financial Arrangements on the same day.

At 0930 GMT, the shares were 1.3% at 450p.