IFG is keen to buy more UK pension providers that are under pressure to boost capital, following its purchase of James Hay last year, chief executive Mark Bourke said.

Results issued yesterday showed revenues at IFG climbed by 29 per cent to €120.6 million last year, after the company completed the purchase of James May in March. Net income rose to €5.41 million from €5.38 million in 2009 after the company booked a restructuring charge for the acquisition.

IFG is well positioned to grow organically or through acquisitions after cutting net debt by 67 per cent to €14.8 million, Mr Bourke said.– (Bloomberg)