Financial services group IFG said today its core businesses pricipally based in Britain are performing well, as it delivered results in line with market expectations.
Operating profit rose to €12.8 million from 10.3 million in 2004 giving earnings of 12 cent per share compared to 7.49 a year ago.
In terms of outlook, IFG notes that it is set "to deliver strong growth in each of its divisions going forward".
The group's trustee division which accounts for 40 per cent of the business reported operating profits of €5.1million. The UK pensions and actuary business which makes up a further quarter of the group reported a 29 percent rise in operating profit to €3.2 million.
UK Financial Services enjoyed a significant turnaround in profitability, with operating profit of €0.9m which compared to a loss of €1.5m in 2004.
IFG also reduced its net debt position, which fell to €29.6 million from €36.7 million over the year.