Q1 was strong with net flows at 5.7% p.a., after 5.1% p.a. in Q4. It does indeed seem that the market can now have more confidence in out-year organic growth expectations, as we half-hoped post Q4. Our FY25E estimates rise 1%. The market tends to assume ongoing equity market price rises, which are in these estimates to the tune of +4.3% p.a. A certain level of revenue margin reduction tends to be assumed, as this is the trend and the stated strategy. We flag a potential inflection, however, sin ....

22 Jan 2025
Integrafin: £0.92bn Q1 NNM was a beat. Fully valued, even on our above-consensus numbers.

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Integrafin: £0.92bn Q1 NNM was a beat. Fully valued, even on our above-consensus numbers.
IntegraFin Holdings PLC (IHP:LON) | 357 -1.8 (-0.1%) | Mkt Cap: 1,183m
- Published:
22 Jan 2025 -
Author:
Ben Williams -
Pages:
9 -
Q1 was strong with net flows at 5.7% p.a., after 5.1% p.a. in Q4. It does indeed seem that the market can now have more confidence in out-year organic growth expectations, as we half-hoped post Q4. Our FY25E estimates rise 1%. The market tends to assume ongoing equity market price rises, which are in these estimates to the tune of +4.3% p.a. A certain level of revenue margin reduction tends to be assumed, as this is the trend and the stated strategy. We flag a potential inflection, however, sin ....