Financial services group IFG has reported a 22% decrease in operating profits of GBP6.2 million for 2012, a decrease from GBP8 million in 2011.
Revenues for the year 2012 fell slightly to GBP76.2 million from GBP77.3 million.
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Total assets under administration and advice for IFG totalled at GBP18 billion, including GBP14 billion in James Hay Partnership, and GBP3 billion in Saunderson House.
During 2012, IFG sold its international business for GBP70 million, which enabled it to strengthen its balance sheet and allowed a ”substantial” return of capital to shareholders.
Mark Bourke, CEO of IFG Group, said the disposal of the international business achieved several goals, "further concentration on our core business, a significant strengthening of our balance sheet and a substantial return of capital to shareholders".
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