IntegraFin Holdings plc Trading Statement (9086F)

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RNS Number : 9086F

IntegraFin Holdings plc

10 November 2022

IntegraFin Holdings plc

IHP Group Trading Update ahead of full year 2022 results

 
For Immediate Release   10 November 2022

IntegraFin Holdings plc ("IHP") today issues a Trading Update in respect of the financial year ended 30 September 2022. Overall, the Group is performing well, and we expect to report adjusted profit before tax for the full year which is moderately above the top end of the range of current analyst consensus estimates.

The uplift to our guidance reflects the Group's latest accounting updates including life insurance company calculations, provision releases, and other assessments. IHP is therefore now able to provide the following guidance on its results for the financial year ended 30 September 2022:

   --      Total Group revenue is expected to be GBP133.5m 
   --      Net interest income is expected to be GBP0.6m as a result of interest rate tailwinds

-- Tax recoveries relating to life insurance are expected to result in other income that is GBP0.2m higher than in the prior year

-- Tax recoveries relating to research and development are expected to result in a credit to other costs of GBP0.3m

-- Occupancy costs are expected to be GBP0.3m lower than the guidance we provided in July 2022, due to a one-off release of a dilapidation provision

-- Staff costs are expected to be GBP0.7m lower than the guidance we provided in July 2022, due to the now agreed release of specific costs for the year ending 30 September 2022

The cost guidance for the financial years ending 30 September 2023, and 30 September 2024, remains unchanged.

We look forward to providing our year end results on 14 December 2022.

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF EU REGULATION 596/2014 (WHICH FORMS PART OF DOMESTIC UK LAW PURSUANT TO THE EUROPEAN UNION (WITHDRAWAL) ACT 2018 ("EUWA")) ("UK MAR")

LEI Number: 213800CYIZKXK9PQYE87

Enquiries

   Luke Carrivick - IHP Head of Investor Relations                            +44 (0)20 7608 5463

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