Dublin-based financial services group IFG has issued an upbeat trading statement for 2007, saying it had delivered "excellent overall performance" with "strong growth" across its three divisions.
"Strong demand and high levels of client activity remained the driver of growth in our international division," the group said. IFG also performed "very strongly" in its UK fee-based advisory business.
The group said its Irish financial services business, which includes pension, investment and broking, and its Irish property business, "performed well in a tough market".
The acquisitions of a trust company in Switzerland and Northern Trust's fund administration business in the Isle of Man "were successfully completed and integrated" during the year and were "performing to plan", the group said.
IFG said its strong balance sheet and cashflow would allow it to carry out further acquisitions.
"We continue to benefit from strong annuity-based income streams, even as global markets remain volatile," the group said.
The group's international division accounts for more than 40 per cent of its profits, while its UK and Irish businesses each cover about 30 per cent of profits.
Broker Goodbody has forecast earning per share of 21.8 cent for 2007, 29 per cent ahead of 2006, while Davy is predicting 19.3 cent, an increase of 22 per cent.
"It looks as if the group remains set to deliver growth of 20 per cent-plus again in the coming year," said Davy in a note.
IFG's share price closed up 5.2 per cent at €1.60.
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