Irish financial services group IFG said today it is confident of continuing growth after reporting a 38.5 per cent increase in pre-tax profit to 8.2 million from euro 5.9 million for the year 2000.
Recurring income from the management of policies is up by 40 per cent to euro 8.3 million previously. This income, which recurs over a long period, consists of insurance renewals, fund-management fees and actuarial fees which are payable over the lifetime of an insurance policy or pension fund.
IFG's chief executive Mr Richard Hayes said all three of IFG's divisions, financial services, trustee and corporate services, and investment each contributed strong organic growth to the results for the year.
"This together with the good start which we have made to the current year gives us confidence for continued growth," said Mr Hayes.
Sales rose to euro 51.1 million from euro 38.6 million. Earnings per share climbed to 15.70 cents from 11.94 cents and dividends per ordinary share rose to 1.90 cents from 1.59.