24th Sep 2015 08:47
LONDON (Alliance News) - Consumer mortgage and mortgage intermediary Mortgage Advice Bureau (Holdings) PLC on Thursday said its pretax profit rose in the first half thanks to better revenue and said it would pay its maiden interim dividend.
The company, which listed in London in November last year, said it would pay a dividend of 4.9 pence per share after its pretax profit in the six months to the end of June rose to GBP3.9 million from GBP3.0 million a year earlier.
Revenue was up to GBP31.2 million from GBP24.5 million as the group added 14% more advisers in the half, rising to 722 at the end of June from 634 at the end of December. The group said its financial position is strong and said it has significant surplus on regulatory capital on its books.
The company said current trading has been in line with its expectations, with a continued increase in adviser numbers over the summer. Chief Executive Peter Brodnicki said the outcome of the UK's General Election in May, with the Conservatives winning a majority, has been viewed as a positive for the intermediary, housing and mortgage sectors, leaving the company in a good position to continue to grow.
Shares in the company were up 1.7% to 292.50 pence on Thursday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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