IntegraFin Holdings PLC on Tuesday reported a higher average amount of daily funds under direction in the second quarter of its financial year, but nonetheless said it expects revenue in the first half the year to dip.

IntegraFin is a London-based firm that owns the investment platform Transact. Shares in the FTSE 250-listed firm rose 8.4% to 278.20 pence on Tuesday morning in London.

IntegraFin said average daily funds under direction for the second quarter ended March 31 was $53.8 billion, up 2.5% from $52.5 billion the same period a year before.

It also reported a record number of Transact platform clients of 228,000 at the end of the quarter, up 4.6% from 218,000 a year before.

Net inflows to the Transact platform were £900 million, with gross inflows of £1.8 billion.

Despite the increases, the company said it expects revenue to be £66 million in the first half of the year. This would be slightly down from £67 million a year before.

Chief Executive Alex Scott said: ‘The retention of clients and assets on the Transact platform remains very high. This is a result of the combination of high-quality, personal, financial planning delivered by UK authorised advisers, and the service that Transact delivers for clients.

‘During this period of ongoing economic and market volatility, clients rely more than ever on their advisers. The recent UK budget also announced specific measures that will enable more saving into UK pensions. We therefore see the demand for high quality advice only continuing to grow, and we will continue to support UK advisers and capitalise on this market opportunity.’

In the first half of its financial year, average daily funds under direction totalled £52.6 million, down from £53.0 million a year prior.

IntegraFin will report full results for the first half of financial 2023 on May 26.

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