IFG €4m profit in ‘tough trading’

The pensions, investment, and advisory group IFG saw an operating profit of £3.3m (€4.12m) for the first six months of the year, down from a £4.9m operating profit for the same period in 2011.

Revenue for the first half of the year was £38m, which is £39.7m less than levels a year ago.

Commenting on the half-year results, IFG Group CEO Mark Bourke said: “The first half of 2012 marked the transformation of IFG Group from a diversified financial services business to a focused pension administration and financial advisory provider.