3rd Jul 2007 07:01
Mattioli Woods PLC03 July 2007 Press Release 3 July 2007 Mattioli Woods plc ("Mattioli Woods" or "the Group") Pre-Close Update Mattioli Woods plc (AIM: MTW.L), the specialist pensions consultancy, todayissues the following trading update in advance of its Final Results for the yearended 31 May 2007, which are to be announced on 4 September 2007. Bob Woods, Executive Chairman, comments: "I am pleased to report that strong growth in our key revenue streams continuedinto the second half of the financial year. I am also delighted to report thatearnings are in line with our revised expectations, following the strong resultsreported for the first half of the year. "It is over a year since the Government introduced the "A-Day" pensionsimplification legislation and the self-invested personal pension ("SIPP") isnow accepted as the pension vehicle of choice for a wider audience. We believethe ongoing decline in final salary schemes, in which some £1.5 trillion iscurrently invested, will act as the catalyst for further growth in the SIPPindustry. "The consultancy team has added a record number of new schemes to our clientportfolio over the last 12 months. Whilst there has been strong growththroughout the SIPP market, we continue to focus on attracting high net worthclients who require the ancillary services we offer, such as investment,business and estate planning, in addition to our core pension administration andconsultancy services. These additional services offer an opportunity forfurther turnover growth and increased margins. "Syndicated property investment is an increasingly important element of ourinvestment planning services. During the year we facilitated the acquisition ofsix properties on behalf of new syndicates, with the total portfolio now beingvalued at over £60 million. "Given the market opportunity, we have recently appointed a sales and marketingmanager to support our sales and marketing director. This will allow the Groupto expand the seminar programme and introduce new marketing initiatives. "Our continued commercial success is a great testament to the efforts of all ourstaff. Working as part of such an energetic and committed team gives me greatconfidence we are well-positioned to achieve future growth." - Ends - For further information please contact: Mattioli Woods plcBob Woods, Executive Chairman Tel: +44 (0) 116 240 [email protected] www.mattioli-woods.com Ian Mattioli, Chief Executive Tel: +44 (0) 116 240 [email protected] www.mattioli-woods.com Nathan Imlach, Finance Director Tel: +44 (0) 116 240 [email protected] www.mattioli-woods.com Evolution Securities LimitedJoanne Lake, Corporate Finance Tel: +44 (0) 113 243 [email protected] www.evosecurities.com Media enquiries:AbchurchHelen Spivey/Sarah Hollins Tel: +44 (0) 113 203 [email protected] www.abchurch-group.com Note to editors: Mattioli Woods was established in 1991 by Ian Mattioli and Bob Woods. The Groupprovides pensions consultancy and administration services primarily toowner-managers, senior executives and professionals. Mattioli Woods' keyactivities include complex pensions consultancy, the provision of self-investedpersonal pensions ("SIPP") and small self-administered pension schemes ("SSAS"),advice on related business affairs, including pension investment services andthe facilitation and administration of syndicated property schemes. Its focusis at the higher end of the market where clients require bespoke service andspecialist advice. Mattioli Woods listed on the AIM market on 23 November 2005. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
MTW.L