Financial services firm IFG pleased with positive start to the year

FINANCIAL services group IFG has said that its UK operations — which accounted for 57% of group profits last year — have enjoyed a good start to 2011, without giving any specific growth figures.

The Dublin-headquartered business said yesterday that the group as a whole has started the year well, with management “pleased with trading for the first four months”.

“General market conditions remain challenging as the fallout from the global economic and financial crisis continues. However, our businesses are resilient, given their recurring revenue streams and strong market positions. This operational ability is bolstered by the group’s financial strength, characterised by low gearing levels and high cash generative qualities,” management added.