IntegraFin Holdings (IHP) H1 2025 earnings summary

Executive summary

• Net inflows reached £2.1bn for HY2025, up 91% year-over-year, representing 7% of opening FUD annualised and reflecting strong client demand and market-leading service proposition.

• Average daily Funds Under Direction (FUD) grew 16% year-over-year to £66.3bn, with a 12% CAGR since HY2020.

• Underlying profit before tax rose 13% to £37.9m, with underlying EPS up 14% to 8.8p compared to HY2024.

• Platform digitalisation and enhanced integrations drove operational efficiency, improved client experience, and supported growth.

• Transact ranked first in 2025 Investment Trends survey for both NPS and overall user satisfaction among 22 providers.

Financial highlights

• Group revenue increased 10% year-over-year to £77.2m for HY2025, driven by higher average daily FUD.

• Underlying profit margin expanded to 49%, supported by record revenue and cost management.

• Platform revenue accounted for 97-99% of group revenue, with annual charge income up 10% to £67.3m.

• Surplus cash and UK gilts stood at £41.1m as of March 31, 2025.

• First interim dividend declared at 3.3p per share, up 3% year-over-year.

Outlook and guidance

• FY25 and FY26 guidance remains unchanged; market turbulence in April 2025 had negligible impact on flows, with FUD recovering in May.

• Expense growth expected to moderate to low/mid-single digits beyond FY25, subject to market conditions.

• One-off £2m cost for London office relocation to be recognised in H2 FY25.

• Confident in continued growth in the UK wealth market and competitive positioning.