Outlook - Strategic focus following sale
Sep 21st 2012 - Edison Investment Research today published a report on outlook entitled "Strategic Focus Following Sale". In summary, the report says:
The completion of the sale of the international businesses leaves IFG focused in markets that we believe should deliver double-digit medium-term growth – UK SIPPs and fee-based personal advisory services and complementary businesses in Ireland. Near term, both businesses face challenging markets not least from the impact of the Retail Distribution Review (RDR) on the overall market. The H112 SIPP sales were a disappointment and we note management, having been initially focused on the integration of James Hay, has only more recently been focused on delivering growth. July and August sales were said to be encouraging. There will be some support to near-term earnings estimates from the c £30m (€38m) buy-back.
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