IFG profits hit £12m as group sells international arm

The preliminary results come as the group signed a £70m deal to sell to private equity firm AnaCap its international division, which comprises its trustee and corporate services in Jersey, Cyprus, Switzerland and the Isle of Man. IFG Group's operating profit grew over 2011 to £12.2m, up from £3.8m in 2010. Its share price doubled to 8.38p, from 4.04p in 2010. James Hay's assets under administration grew to £14bn, with the firm adding 2,150 more SIPPs to its book to bring the total to 38,289. Saunderson House's assets under administration and advice grew to £3bn, with advisory profi...