IFG Group names interim CEO as operating profits dip

Jenna Towler
clock

IFG Group, the parent company of James Hay Partnership and Saunderson House, has named John Cotter as its interim chief executive as its latest results show a dip in operating profits.

Cotter, the group finance director, will take over from outgoing Mark Bourke on 7 April as the CEO recruitment process continues. The group's preliminary results state the outfit achieved an operating profit of £4.6m compared to £6.2m in 2012. However, revenue was up by 4.6% to £79.6m compared to £76.2m the previous year. Adjusted operating profit of £9.6m was in line with 2012, it said. Profit after tax from continuing operations increased by 49% to £3.6m and a final dividend of  3.19c per share, is proposed, maintaining dividend pay-out. The group sold off its IFA arm to Ascot L...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Pensions

Devilish details: Protection and the abolition of the LTA

Devilish details: Protection and the abolition of the LTA

'There are a number of subtleties to be aware of'

Thomas Coughlan
clock 22 March 2024 • 8 min read
L&G Retail launches adviser handbook on later life divorce

L&G Retail launches adviser handbook on later life divorce

To help support advisers dealing with clients going through a divorce

Jenna Brown
clock 21 March 2024 • 1 min read
New occupational scheme launches; BSPS rescue proposals set out

New occupational scheme launches; BSPS rescue proposals set out

Former British Steel workers will be able to ‘reverse transfer’ their pots

Jonathan Stapleton
clock 14 March 2024 • 2 min read