Mattioli Woods posts 25% earnings climb as it eyes acquisitions

Added 8th September 2016

Mattioli Woods has reported full year adjusted earnings of £9.3m, a 25.7% rise on the level achieved the year before.

Mattioli Woods posts 25% earnings climb as it eyes acquisitions

Accordingly, adjusted earnings per share were up 14% to 31p and revenue up 24.3% to £43m.

Client assets were also up 22.2% to £6.61bn from £5.41bn in 2015.  The firm’s discretionary assets were up 15.8% to £1.17bn from £1.01bn at the end of the previous financial year.

In terms of the outlook for the coming year Mattioli Woods said it expects ‘increasing demand for advice post-Brexit.’ It also said

Executive chairman Bob Woods said: "I am pleased to report another year of strong growth, with organic growth supplemented by the five acquisitions completed during the period.  Revenue was up 24.3% to £43m with strong growth in our wealth management business following the announcement of the government's new pension freedoms and a 22.2% increase in the value of total client assets under management, administration and advice to £6.61bn at the year-end.”

Alongside the performance update the firm announced the acquisition of pensions company MC Trustees, and said it has a ‘strong pipeline of further acquisition opportunities.’

"Acquisitions are a core part of our growth strategy and the five acquisitions completed in the year are integrating well,” said Woods. “The acquisition of Old Station Road Holdings Limited and its subsidiaries, together MC Trustees, which we announced today, is another excellent strategic and cultural fit with our existing business and we continue to seek further value-enhancing acquisitions.”

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Alex Sebastian

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Alex joined Portfolio Adviser in April 2014 and has been a financial journalist since 2008. He has previously held editorial positions at the Financial Times Group and Euromoney Institutional Investor. Alex is NCTJ qualified and has a degree in economics from the University of Sussex.



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