Financial-services company IFG Group said trading today its trading was in line with forecasts and that it expects to meet earnings targets.
The company will probably reach an earnings-per-share target of 25 cents to 26 cents this year, chief executive officer Mark Bourke told IFG's shareholders at the annual meeting in Dublin today.
IFG is expanding its trustee and administration business overseas, helping to offset a slowdown at the Irish mortgage unit amid a slump in the country's property market.
"Everyone in the room would be very much aware of the difficulties in the property market,'' Bourke said.
"We would have expectations of a considerable drop in the performance overall of the property division. We are effectively compensating by the performance of the other divisions."
Bloomberg